CFC
NAVIGATING UK REGULATORY CHANGES IN THE FINTECH LANDSCAPE
Recent changes in UK regulations have expanded regulators ’ authority to examine critical third-party providers . Steve views these regulatory developments as an opportunity to enhance risk management practices .
“ This isn ’ t about making life difficult for businesses ,” Steve explains . “ It ’ s about driving good risk management practices . When we ’ re dealing with more established , critical risks , these regulatory changes allow us to really dig into the nitty-gritty of their processes .”
CFC ’ s underwriting process evaluates both quantitative data and personnel qualifications .
Steve elaborates : “ We ’ re not just interested in what they ’ re doing , but who ’ s doing it . We look at their experience , their background , who they ’ ve got advising them or sitting on their board .
“ It ’ s crucial for us to understand whether these individuals have the right experience to be in those roles .”
This assessment of leadership and expertise contributes to comprehensive risk profiling of fintech companies and informs insurance coverage decisions . respond ,” Steve confirms . “ Of course , it ’ s up to our underwriters to determine where we ’ re comfortable providing that risk and cover , and where we might need to tread more carefully .”
Balancing Innovation and risk in fintech insurance Of course , CFC ’ s approach to fintech insurance combines
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