DNB Technical Cooperation and Insurance Supervision Division

Purpose

We will be hosting this webinar to share knowledge and exchange experiences in supervision on insurance in relation to new developments in the insurance landscape and supervision practices.

Background

The financial sector has gone through a necessary transition driven by innovations such as digitisation, changing user demands and integration in the European market. New European legislation has fostered the emergence of new market players and business models. Insurers have implemented the new risk-weighted supervisory framework, Solvency II, and financial resilience has become exceedingly important. Insurers today operate in a more uncertain world and a highly challenging environment. Firstly, they face many new opportunities and challenges in terms of technological innovation, their business strategies and their business models. Secondly, they are forced to navigate a period of uncertainty due COVID-19 and protracted low interest rates. Thirdly, climate change and the imperative of operating more sustainably present further challenges and risks.

Target group

Management, senior staff and officers at central banks and other insurance supervisory authorities.

Contents

During the webinar we will address some of these market trends and developments. We will also discuss our new supervision methodology for a more risk-based approach and illustrate how we deal with the practical implications of being a prudential supervisor in an uncertain and rapidly changing world. We encourage interactive participation.

The specific topics that will be addressed include:

• The impact of COVID-19 on insurers and supervisory authorities
• Innovations in supervision on insurance
• Data-driven supervision
• Risk-based supervision, our new methodology
• Insurtech: business models
• Climate risk and the importance of environmental, social and governance (ESG) factors

Michiel, Björn and Henk