The UK Insurance Market

• 30 Minutes
• For all staff
• UK

Insurance policies can be complex. This in-depth course explains how the UK insurance market works, from the evolution of insurance to the role of Lloyd’s of London and how reinsurance spreads risk. Learn about insurance regulation under FSMA 2000, with the FCA, PRA and ICO each playing a part, and where the Insurance Act 2015 and CIDRA 2012 shape the duties of insurers and customers.

We compare types of insurers, from mutual insurers to publicly listed insurers, look at key players and terms such as brokers, agents, underwriting, claims handling and risk pooling, and explore how bancassurance, price comparison websites and takaful insurance play a role. Finally, we dive into market trends such as insurtech, ESG in insurance and digital transformation.