Regulating Digital Insurance Platforms in the EU: Legal Frameworks and Future Directions
1. Introduction – 2. Navigating the EU Regulatory Landscape for Digital and Insurance Platforms. – 2.1. Pioneering EU Regulations for Digital Platforms. – 2.2. Key Legislative Milestones in the EU Digital Strategy. – 2.3. Integrating Insurance into the EU Digital Regulatory Framework. – 2.4. EU Insurance-Specific Legislation: Legal Frameworks for Digital Platforms. – 2.5. Equivalence vs. Conformity: Navigating European Interests. – 2.6. Balancing Cross-Cutting and Sector-Specific Rules in Digital Insurance. – 3. The Legal Status of Digital Insurance Platforms: Distribution and Regulatory Boundaries. – 3.1. Ownership and Liability of Insurance Platforms. – 3.2. Group Policyholders and Their Regulatory Status. – 3.3. Exempted Ancillary Insurance Intermediaries in Digital Insurance Platforms. – 3.4. Regulatory Role of Insurance Referral Agents or Tipsters. – 3.5. Peer-to-Peer “Pure” Model in Insurance: Regulatory Boundaries and Implications. – 4. Compliance Challenges in Digital Insurance Platforms: Business Conduct Rules. – 4.1. Distribution by Exempted Ancillary Intermediaries. – 4.2. Regulating Sales with (Robo)Advice in Digital Platforms. – 4.3. The Role of Comparison Websites, Fin-Influencers and Virtual Influencers. – 5. Conclusions.
La trasformazione digitale dell'industria assicurativa all'interno dell'Unione Europea (UE) presenta significative opportunità, ma anche complesse sfide normative. Questo saggio esamina l'evoluzione del panorama regolamentare sulle piattaforme assicurative digitali, concentrandosi sull'interazione tra le normative dell'UE relative alle tecnologie digitali emergenti e il settore assicurativo.
Lo studio identifica i quadri giuridici fondamentali che disciplinano il funzionamento delle piattaforme assicurative digitale, analizzando le principali tappe legislative legate alla trasformazione digitale e all'industria assicurativa. Esplora inoltre l'impatto dell’integrazione dell’assicurazione nel più ampio quadro normativo digitale dell’UE, considerando le implicazioni per i proprietari delle piattaforme, i contraenti, i distributori e i modelli di business emergenti, come l’assicurazione peer-to-peer.
Inoltre, il saggio approfondisce i confini regolamentari che definiscono e differenziano i vari modelli di assicurazione digitale, affrontando le sfide legate al rispetto delle norme di condotta aziendale nell’era digitale. In ultima analisi, questa analisi evidenzia la tensione costante tra la promozione dell’innovazione, la protezione dei clienti e il mantenimento della stabilità del mercato, offrendo raccomandazioni per bilanciare questi interessi nell’interpretazione della normativa dell’UE che incide sulle piattaforme assicurative digitali.
The digital transformation of the insurance industry within the European Union (EU) presents significant opportunities alongside complex regulatory challenges. This essay examines the evolving regulatory landscape for digital insurance platforms, focusing on the interaction between EU laws related to emerging digital technologies and the insurance sector.
The study identifies the foundational legal frameworks that govern the operation of digital insurance platforms by analysing key legislative milestones associated with digital transformation and the insurance industry. It explores the impact of integrating insurance into the broader EU digital regulatory framework, considering the implications for platform owners, policyholders, distributors, and emerging business models, such as peer-to-peer insurance.
Additionally, the essay delves into the regulatory boundaries that define and differentiate various digital insurance models, addressing the challenges of ensuring compliance with business conduct rules in the digital age. Ultimately, this analysis highlights the ongoing tension between fostering innovation, protecting customers, and maintaining market stability while offering recommendations for balancing these interests in interpreting the EU's regulations affecting digital insurance platforms.