Insurers support robo options

The Financial Markets Authority revealed this week that it planned to go ahead with its proposed exemption, which will allow roboadvice before the introduction of new advice laws would otherwise have made it possible.

Originally, it had said mortgages and personal insurance would be excluded but director of regulation Liam Mason said it had since altered its view on that.

Fidelity Life and Partners Life both made submissions in favour of the roboadvice exemption,

Partners Life’s plans to use the exemption were removed from its submission, as commercially sensitive.