The challenges for insurance and regulators in a Big Data world

Chief executive of the FCA, Andrew Bailey, delivered a speech at the Association of British Insurers' annual conference -- which this year focused on the importance of big data and insurance -- covering:

• Why big data means insurers can move the boundary between risk assessment based on aggregate modelled behaviour and risk assessment based on the observed behaviour of the individual;
• How the impact of big data affects the boundary of pooling risk characteristics and individual observation;
• The issues the FCA is considering as part of its review of the Financial Services Compensation Scheme.

The full speech can be viewed here: bit.ly/2ghEdBC