Insurers Tell European Watchdog Not To Meddle In Innovation

Law360, London (May 16, 2019, 2:33 PM BST) -- European insurers have told the European Union’s top insurance watchdog that it must not pen regulatory rules that could hurt innovation in the insurance market, as the bloc weighs the opportunities and risks of using “big data” in new products.

Insurance Europe, the voice of the industry, said on Wednesday that the European Insurance and Occupational Pensions Authority should not create measures that would hinder big data’s ability to reform the market. Big data is the industry term for collating and analyzing vast amounts of data to search for trends, which is at the vanguard of the financial technology industry....

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