October’s regulatory updates in insurance bring pivotal developments across financial data rights, digital transformation, and industry data standardisation. The CFPB in the US has finalised a personal financial data rights rule to bolster consumer privacy and competition. Velonetic shares its Q3 update on the Blueprint Two transformation project, aiming for significant progress by early 2025, with a working session for industry input. The LMG Data Council also launched a consultation to improve treaty data standards for enhanced market efficiency.

Read on for insights and milestones in these key areas!

CFPB Finalizes Financial Data Rights Rule

The Consumer Financial Protection Bureau (CFPB) in the US has issued a rule to strengthen consumer control over personal financial data, aiming to enhance competition and protect privacy. This rule is set to empower consumers by expanding their choices in financial services.
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Velonetic Blueprint Two Q3 2024 Update

Velonetic’s Q3 update on Blueprint Two details advancements in its digital transformation strategy, including improvements in technology infrastructure and testing phases.
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Blueprint Two Events: October Working Session

Velonetic is hosted an October working session to bring stakeholders together for updates on Blueprint Two’s ongoing progress, focusing on collaboration and upcoming phases.
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MG Data Council Treaty Core Data Consultation

The LMG Data Council has launched a consultation for the Treaty Core Data Record, which aims to standardise data reporting and improve treaty processes across the market.
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