Publication Date: 18th March 2021
Author: Dennis Noordhoek
The COVID-19 pandemic has forced many insurers to accelerate their transition to digital business models. Though this has been remarkably successful in many countries, the crisis has also highlighted the critical role played by national regulatory frameworks in both facilitating and hindering the shift to digitalisation in the insurance industry.
Drawing from a Geneva Association survey of insurers across 16 jurisdictions, this issue brief explores regulatory and policy barriers to the digitalisation of insurance business models and highlights how effective cooperation between regulators and the industry can and has enabled digital transition in response to COVID-19.