- Regulatory Developments and Compliance Challenges
The European insurance market is subject to a sophisticated and ever-evolving regulatory framework. The Solvency II Directive, GDPR, IDD, and PRIIP regulations are just a few of the many requirements that insurers must comply with. In addition, the impacts of Brexit and the SFDR are creating new challenges for insurers operating within the EU and beyond.
Compliance with these regulations requires careful consideration of the various requirements, the use of regulatory technology solutions, and the implementation of policies and procedures to ensure compliance. Compliance is not only a legal obligation, but also a key component of maintaining trust and confidence among policyholders, regulators, and other stakeholders. In this context, insurers are continually assessing and adapting their operations to comply with the evolving regulatory landscape, balancing innovation and compliance to succeed in the European insurance market.