July 06, 2018

EIOPA launched EU-wide thematic review on Big Data as a follow-up to the March 2018 cross-sectorial review of ESAs on the use of Big Data. The thematic review is intended to gather empirical evidence on the use of Big Data by insurance undertakings and intermediaries, along the whole insurance value chain. As part of the thematic review, EIOPA issued questionnaires to national competent authorities, consumer associations, and a representative sample of insurance undertakings.

The review will analyze the potential benefits and risks arising from Big Data both for the industry and for consumers. It will assess new business models and data quality issues as well as impact on financial inclusion and the fair treatment of consumers through consumer profiling techniques and more granular risk assessments. The thematic review will be conducted in close cooperation with the national competent authorities and will aim to cover at least 60% of the motor and health insurance markets in each member state. The quantitative and qualitative input will be collected from the insurance industry, consumer associations, and national competent authorities. EIOPA will collect the data in July and August this year and plans to publish the key findings in the first quarter of 2019. 

 

Related Links

Keywords: Europe, EU, Insurance, Big Data, Fintech, Thematic Review, EIOPA

Related Articles
News

APRA Releases Minor Changes to Reporting Standards on SA-CCR for Banks

APRA released minor changes to the three reporting standards for the standardized approach for measuring counterparty credit risk exposures (SA-CCR).

May 22, 2019 WebPage Regulatory News
News

APRA Proposes to Amend Guidance on Residential Mortgage Lending

APRA is consulting on revisions to the prudential practice guide APG 223 on residential mortgage lending in Australia.

May 21, 2019 WebPage Regulatory News
News

ESAs Amend Technical Standards on Mapping of ECAIs Under CRR

ESAs published a second amendment to the implementing technical standards on the mapping of credit assessments of External Credit Assessment Institutions (ECAIs) for credit risk under the Capital Requirements Regulation (CRR).

May 20, 2019 WebPage Regulatory News
News

OCC Consults on Information Collection for Home Mortgage Disclosures

OCC is soliciting comment on the revision of the information collection titled “Regulation C—Home Mortgage Disclosure.” OCC also notes that it has sent the collection to OMB for review.

May 20, 2019 WebPage Regulatory News
News

EIOPA Updates Q&A on Regulations in May 2019

EIOPA published additional questions and answers (Q&A) on guidelines, directives, and regulations applicable to insurers in Europe.

May 17, 2019 WebPage Regulatory News
News

FSB Publishes Update on Meeting of RCG for Americas

FSB published a summary of the meeting of its Regional Consultative Group (RCG) in Americas.

May 17, 2019 WebPage Regulatory News
News

ESRB Paper on Impact of Business Model Similarities on Risk Capture

ESRB published a working paper on whether information contagion and business model similarities explain bank credit risk commonalities.

May 17, 2019 WebPage Regulatory News
News

IASB Issues Work Plan and Meeting Updates for May 2019

IASB published an updated work plan, along with the update of its meeting in May 2019.

May 17, 2019 WebPage Regulatory News
News

FCA Publishes Its Business Plan for the Coming Year

FCA published its Business Plan, which sets out the main areas of focus and priorities for 2019/20.

May 17, 2019 WebPage Regulatory News
News

CBM Notifies ESRB and ECB on Imposing Borrower-Based Measures in Malta

CBM notified ESRB and ECB regarding its decision to impose borrower-based measures on lenders in Malta.

May 17, 2019 WebPage Regulatory News
RESULTS 1 - 10 OF 3103