InsurTech4Good.com Weekly Newsletter – #24, 2025
This edition highlights several critical developments across EU policymaking, AI innovation, and long-term strategic thinking in the insurance space.
The European Commission has launched two important consultations. One addressing barriers to financial market integration and another aiming to tackle manipulative digital practices through the forthcoming Digital Fairness Act.
Both carry strong implications for cross-border business, product design, and consumer trust.
Also featured is Anthropic’s new Claude platform, which is already delivering measurable results in insurance space, along with a useful primer on quantum computing’s early role in finance.
A forward-looking report outlines four possible scenarios for the future of insurance in 2040, grounded in megatrend analysis.
To close, the 2025 UNIBA Partners InsurTech Pitching Competition is now open for applications.
Hope you enjoy the read!
Andres
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Consultation on barriers to financial market integration
Attention InsurTech and FinTech friends!
The European Commission is seeking input on obstacles that hinder the functioning of the single market for savings and investments.
This includes barriers to cross-border capital flows, difficulties in doing business across the EU, and burdensome regulatory requirements.
You can report issues such as:
1. Market fragmentation
2. Divergent supervisory practices
3. Licensing and freedom to operate (including discriminatory practices)
- Repetitive or excessive reporting burdens
This is a great opportunity to share your experiences. It’s a simple, free-form submission via email.
Read more here.
Claude for Financial Services
Anthropic has introduced a comprehensive solution for financial analysis designed to transform the way market analysis, research, and investment decisions are conducted with Claude.
The Financial Analysis Solution integrates financial data—from market feeds to internal sources stored on platforms such as Databricks and Snowflake—into a single interface. It provides direct hyperlinks to source materials for immediate verification, offering expanded capacity to support demanding financial workloads within one unified platform.
The CEO of AIG, a leading global insurance organization, states:
"Our partnership with Anthropic will fundamentally transform how we approach underwriting at scale.
With the incorporation of Claude's advanced capabilities into our underwriting process, we have been able to compress the timeline to review business by more than 5x in our early rollouts while simultaneously improving our data accuracy from 75% to over 90%.
This collaboration is about propelling growth and providing our underwriters the tools to make better decisions at an accelerated pace, ultimately driving our ability to serve more clients with greater insight."
Read more here.
Quantum in finance
While quantum technologies are still emerging, they are advancing rapidly, along with their applications in financial services and insurance.
By exploring use cases and sharing lessons from early experimentation, the industry can accelerate the secure and effective deployment of quantum solutions.
Understanding these developments is also important for policy makers and supervisors.
Read more here.
Public consultation on Digital Fairness Act
The public consultation on the forthcoming Digital Fairness Act has just been launched.
At first glance, it might not seem directly relevant to your area but I strongly encourage you to take a closer look.
The core problems being addressed include:
• Lack of digital fairness for consumers, especially vulnerable groups such as minors - leading to poor decision-making, financial harm, time loss, health risks, and even environmental costs.
• Unclear rules for businesses and market fragmentation, which result in higher compliance costs, barriers to cross-border trade, missed opportunities, and unfair competition - particularly from non-EU traders.
The 2024 fitness check on digital fairness revealed important gaps in consumer protection online.
Building on the existing EU digital rulebook, this new initiative aims to address problematic practices such as:
• Unfair commercial practices, including dark patterns
• Addictive design features in digital products
• Unfair personalisation and pricing practices
• Misleading marketing by influencers
It also seeks to ensure a level playing field for online traders, simplify rules, and improve enforcement.
EU consumer protection rules are sector-agnostic, so this initiative will impact the financial and insurance sectors as well.
The topics are complex but highly relevant to think through. It is ultimately all about trust, in my opinion.
They intersect with existing financial services regulation and touch on emerging areas like Finfluencers, dark patterns, and personalised pricing.
All of which are still under exploration by policymakers, supervisors, and academia.
And I know this well. I've done quite a bit of thinking around these issues in my previous life (and still do, to be honest).
But I also know many of you (experts in tech, law, and behavioural finance) have valuable insights to offer. Together, we can help shape a fair and balanced approach.
So take the time and share your ideas
Read more here.
Financial inclusion
To close the last-mile gaps and improve livelihoods by broadening the range of suitable financial services available, we need to develop and scale new solutions, argues recent CGAP and Accion blog post.
It suggests that there are six clear opportunities that must be prioritized:
1. Smart use of next-generation technology
2. Strategic investment in Digital Public Infrastructure (DPI) and Open Finance
3. Deploying new tools to crowd in private sector capital and expertise
4. An unwavering focus on outcomes
5. Provision of complementary services
6. Underpinning everything with robust consumer protection that builds and maintains trust
I especially like the reference to DPI and Open Finance.
As the authors put it, just like roads connecting people and businesses, DPI and Open Finance create a network for delivering digital services.
Financial service providers can build on this foundation to provide people with responsible credit, savings, insurance, and other financial tools to improve their economic well-being.
I couldn’t agree more and you see the overall role of technology and innovation as critical!
We should keep this in mind here in the EU as well.
Read more here.
Insurance Micro and Macroprudential Supervision in the EU
Over the past five years, the institutional structure for insurance regulation and supervision in the euro area (EA) has evolved incrementally, and at the time of the FSAP important legislative processes were in development.
Insurance supervision remains a national responsibility, but the European Insurance and Occupational Pensions Authority (EIOPA) is assuming a growing, central role.
This includes EIOPA’s responsibilities under the Digital Operational Resilience Act (DORA), which establishes an oversight framework for critical Information and Communications Technology (ICT).
It also includes Insurance Recovery and Resolution Directive (IRRD), which gives EIOPA new roles and responsibilities, including the establishment of a resolution committee and other more permanent tasks (such as participating in the resolution colleges).
In addition, at the time of the FSAP, important legislative review processes were in course, such as the Solvency II Review and the Retail Investment Strategy (RIS) proposal.
Read more here.
Revealing the paths to 2040: four possible scenarios for insurance
5 Megatrends Reshaping Insurance (3 and 5 are the ones I personally follow most.)
1. Climate change poses a threat to societies and commerce.
2. Globalisation is increasingly under pressure.
3. Major demographic shifts are under way.
4. Economic and social inequities are rising.
5. The digital revolution is accelerating.
In such a dynamic environment, scenario planning becomes invaluable.
Scenarios illuminate how major drivers of change may evolve and interact.
The point is not to predict the future, but rather to position companies to effectively respond to emerging challenges and seize new opportunities.
This paper offers insurers four visions of the world and the industry in 2040:
Scenario 1: Customer-centred transformation takes hold
Scenario 2: Adaptation in a fragmented, unequal world
Scenario 3: A struggle to adapt in a polycrisis world
Scenario 4: Insurers spur climate resilience
Strategic foresight is something I’ve been passionate about for quite some time. I also recently completed a detailed course on the topic.
Although published at the end of last year this is a really interesting read.
I’d love to see more strategic foresight applied in insurance. Some companies are already doing it well.
Read more here.
Call for Applications: UNIBA Partners Online Insurtech Pitching Competition 2025
UNIBA Partners has opened applications for the 2025 edition of its Online Insurtech Pitching Competition, scheduled to take place on 16 September at 15:00 CET.
Following the success of last year’s event, which featured startups addressing key challenges such as climate risk, AI-powered underwriting, and claims automation, the competition returns with a renewed focus on innovation and collaboration in the insurance sector.
The competition offers InsurTech startups a unique opportunity to present their solutions to a global audience of independent insurance brokers and explore potential business partnerships.
Applications are open until 22 August 2025.
Read more here.
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