The role of business model analysis in the supervision of insurers

John Breckenridge (), James Farquharson () and Ruth Hendon ()
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John Breckenridge: bank of England
James Farquharson: Bank of England
Ruth Hendon: Bank of England

Bank of England Quarterly Bulletin, 2014, vol. 54, issue 1, 49-57

Abstract: The Prudential Regulation Authority (PRA) supervises insurance companies since, in the absence of regulation, there could be adverse effects for policyholders and financial stability. Like all firms, insurers’ business models — the ways they make profit — and the risks they face evolve over time. The PRA uses business model analysis (BMA) as part of its forward-looking supervisory approach, to help to ensure that these evolving risks are recognised. This article explains the use of BMA, using as case studies the rise of price comparison websites in the motor insurance market, and the growth of non-standard annuity products for life insurers.

Date: 2014
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