Digitalisation in the Insurance Sector
Digitalisation – Insurance Companies
Technological developments are changing the framework conditions in the financial market: they open new opportunities for undertakings, although such opportunities are also accompanied by risks. Against this backdrop, the Austrian Financial Market Authority (FMA) continues to conduct various analyses and focus its supervisory efforts on digitalisation in the Austrian financial market. Based on such analyses, the FMA is able to take preventative measures, to initiate enhancements in the legal framework, determine the intensity of supervision of individual supervised undertakings in a more risk-adequate manner, and to act in a risk-based and forward-looking manner in planning and setting the priorities for supervision.
