The Association of British Insurers and Insurtech UK have signed a memorandum of understanding to support and promote continued innovation across the UK insurance sector.
The MOU recognises their commitment to promoting co-operation, exchanging views and sharing information on matters of common interest.
Hannah Gurga, ABI director-general, said: “Innovation and harnessing the best of technology is crucial to maintaining our sector’s competitive edge. This MoU will bolster our working partnership with Insurtech UK so that we can continue to drive growth in the UK insurance industry to the benefit of our members and their customers.”
Melissa Collett, Insurtech UK CEO, added: “We are delighted to have signed this MoU with the Association of British Insurers, continuing our ongoing working relationship together. Technology is clearly at the heart of all insurtech start-ups. Equally, the desire for greater innovation and collaboration between insurtechs and insurers is a core focus for Insurtech UK; which will help drive up the consumer experience and choice available in the market. We look forward to working closely with ABI to leverage our collective resources, to create opportunities for our members and to help deliver innovation to our ecosystems.”
The ABI represents more than 300 member companies, while InsurtechUK is the largest formal insurtech alliance in the world, supporting 100 companies.
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