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European Insurance and Occupational Pensions Authority

Digitalisation and financial innovation

Digital Strategy

In October 2023, EIOPA published its Digital Strategy, which provides and integrates its view on how to support the digitalisation of the insurance and pensions sectors, of national competent authorities (NCAs) and of EIOPA itself.

EIOPA is putting the best interest of consumers first and adopts a technology neutral approach, while remaining flexible to be able to keep pace with innovation.

In its strategy, EIOPA has identified three key long-term priorities, which will guide its work to ensure consumer protection an financial stability.

Core principles

Technological neutral and people first

EIOPA will remain technologically neutral with no bias towards innovation or traditional approaches nor among different technologies.

Flexible, yet firmly rooted

Successfully guiding the digital transformation of the insurance sector requires EIOPA to adopt a flexible approach towards innovation while remaining firmly rooted on its mission.

Key priorities

Ensuring innovation is aligned with the best interests of consumers

by taking into account digital ethics and financial inclusion

Strengthening business model sustainability and resilience

for all insurance market players

Enhancing the supervisory capabilities

by maintaining the standard of efficient prudential and conduct supervision as well as responding to and using technological innovation

Further information

Find more how EIOPA is addressing the different aspects of digitalisation.