Technology and Innovation
Credit insurers and sureties have long championed the adoption of new technologies and innovations which can improve operational efficiencies and deliver better experiences and outcomes to customers. ICISA works closely with our members to understand and adapt to technological change, but also contribute to discussions on the appropriate regulation and supervision of the sector and new, ‘challenger’ technologies.
Credit insurers and sureties (as well as their reinsurers) analyse large quantities of data and often must make rapid, automated decisions. ICISA members closely follow developments in data management, analytics and other related developments which can benefit their businesses. ICISA is at the forefront of promoting the adoption of blockchain technology within the Surety sector through collaborations with key stakeholders across the market. We also seek to utilise our experience of existing and emerging technologies to contribute to public debates about broadening access to financial services, combatting financial crime, and improving efficiency and performance.
ICISA has contributed to public consultations and other discussions on the regulatory response to blockchain adoption and other smart technologies, as well as the development of public databases of relevant information about businesses in the real economy, among others.
If you would like to discuss our approach to this topic, contact Daniel de Burca