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Articles & Insights
Analysis and commentary on financial innovation, regulation, AI, Open Finance, and SupTech.
11 February 2025 · 1 min read
Digital Finance in the EU: Navigating New Technological Trends and the AI Revolution
This second EU Supervisory Digital Finance Academy (EU-SDFA) e-book provides an overview of key trends and topics relevant to the Academy. The EU-SDFA is a technical support project launched by the European Commission in October 2022, in cooperation with the European Supervisory Authorities (ESAs) and the Florence School of Banking and Finance (Robert Schuman Centre, EUI). The e-book is divided into two sections, comprising a total of nine contributions. The first section builds on last year’s
11 February 2025 · 2 min read
AI Act AI system definition and insurance
The Commission published Guidelines on the definition of an AI system to facilitate the application of the first AI Act’s rules. This is also important for the insurance sector to better understand what falls within and outside the scope of the AI Act. The definition of an AI system entered into application on 2 February 2025, together with other provisions set out in Chapters I and II of the AI Act, notably Article 5 on prohibited AI practices. As the definition of an AI system is crucial for
11 February 2025 · 2 min read
EU AI Act AI Literacy Practices in insurance
Introduction Under the EU AI Act, insurers and intermediaries that provide or deploy AI systems must ensure adequate AI literacy among staff and relevant stakeholders. This requirement is flexible to accommodate the diversity and complexity of AI tools. To support AI literacy, the European Commission has launched a Living Repository, an evolving collection of best practices. Among the contributors are Gjensidige and Generali, which share their AI use cases and training initiatives. Generali's
10 February 2025 · 2 min read
European Commission's Annual Work Programme: FIDA Proposal to Be Withdrawn?
The European Commission will publish its Annual Work Programme tomorrow. This document informs the public and other institutions about the Commission’s political commitments, including plans to introduce new initiatives, withdraw pending proposals, and review existing EU legislation. According to a leaked version I have seen, the Financial Data Access (FIDA) proposal will be withdrawn. The stated reason is that it is not aligned with the Commission’s current objectives. The proposal would intro
5 February 2025 · 10 min read
InsurTech 2050 | Mihkel Mandre, Lyfery
The goal of the InsurTech 2050 Interview Series is to create a platform where InsurTech founders, CEOs, and top insurance regulators and policymakers share their journeys and insights. This series aims to: * Inspire and support fellow founders and regulators/policymakers. * Foster closer collaboration and understanding between these two groups. * Provide thoughtful, in-depth discussions on the future of insurance and its biggest challenges. Today, I´m speaking with Mihkel Mandre from Lyfer
3 February 2025 · 1 min read
Artificial Intelligence and economic and financial policymaking
At their final meeting under the Italian G7 Presidency on 19 December 2024, the G7 Finance Ministers and Central Bank Governors received a report from a High-Level Panel of Experts on “Artificial Intelligence and Economic and Financial Policy Making.” Commissioned by the G7 Finance Ministers and Central Bank Governors, the report was led by Dr. Luis Videgaray and prepared by a panel of leading computer scientists, economists, and policy analysts. It explores AI's implications for the economy an
3 February 2025 · 1 min read
Insurers Partnering with Academia to Advance AI Innovation
Leading insurers are increasingly collaborating with top academic institutions to explore the potential of artificial intelligence (AI) in the insurance sector. These partnerships aim to drive innovation, enhance risk assessment, and improve operational efficiency. Generali's Collaboration with MIT Generali has partnered with the Laboratory for Information and Decision Systems (LIDS) at the Massachusetts Institute of Technology (MIT), a globally recognized leader in applied research. The coll
3 February 2025 · 2 min read
EU AI Act, AI literature and insurance
The AI Act aims to ensure a high level of protection for fundamental rights, health, and safety, while the insurance sector legislation, already applicable to the use of AI by insurance supervised entities, establishes principles on conduct and prudential objectives. AI Act follows a risk-based approach, classifying AI systems according to different risk levels (unacceptable risks, high risk, limited risk and minimal risk). In the insurance sector, the AI Act identifies as high-risk those AI s
30 January 2025 · 3 min read
The EU Competitiveness Compass: What It Means for Insurance and InsurTech
The European Commission has published the EU Competitiveness Compass, a major initiative providing a strategic and clear framework to steer the Commission's work. While insurance is not explicitly mentioned, this does not mean the Competitiveness Compass will have no effect on the sector. Let’s take a deep dive. A Strategic Vision for Europe's Future The Competitiveness Compass sets out a path for Europe to become the global hub where future technologies, services, and clean products are inve
21 January 2025 · 2 min read
3 newly established European Commission Commissioners' Project Groups important for finance and innovation
On January 7, 2025, the European Commission announced the creation of several new Commissioners' Project Groups. These groups represent a collaborative approach within the Commission, designed to address complex, cross-cutting issues more effectively. While their establishment is not unprecedented—the first such groups, then called "project teams," were introduced under Jean-Claude Juncker’s presidency—they continue to play a crucial role in advancing the Commission's strategic priorities. Im
20 December 2024 · 4 min read
Shaping the Future: How Europe's New Policy Cycle Impacts InsurTech
With the European Commission’s new leadership in place, this post reflects on the previous policy cycle’s impact on InsurTech. Explore how initiatives like DORA, the AI Act, and the European Data Strategy shaped the industry and what the future holds for innovation and regulation in insurance.
5 December 2024 · 2 min read
EU Member States Reach Agreement on Financial Data Access Framework (FIDA): Key Open Insurance Insights
Discover how the EU’s new Framework for Financial Data Access (FIDA) will shape open finance and insurance, with key implications for the industry.