3 UK
4
LITHUANIA
No more price walking AI RegTech introduced
The UK ’ s Financial Conduct Authority has banned the practice of price walking for policies up for renewal from January 2022 in a landmark move .
The Bank of Lithuania has introduced a regtech solution to boost AML ( anti money laundering ) practices by providing new monitoring and analysis services .
5 CHINA
Accenture study reveals customer impact on sector
An Accenture insurance consumer study found that 20 % of consumers in mainland China intend to switch insurers in the next 12 months , a statistic that , if true , would significantly impact the region ’ s CAGR . insurtechdigital . com 13