GDPR Could Be Stifling Innovation, EU Insurers Warn

Law360, London (June 12, 2019, 5:10 PM BST) -- Data protection laws could be slowing the pace at which insurers use innovations in technology to develop new products, Europe’s insurers have said, warning that the rules are not entirely "fit for a digital age."

Insurance Europe, the voice of the industry, said on Tuesday that the European Union’s General Data Protection Regulation, which came into force in May 2018, could be holding back fast-evolving technology and digital innovation in the insurance sector. The industry group urged the European Commission to ensure that the rules, known as GDPR, are applied to insurers in a way that allows them to innovate for the benefit...

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