This overarching strategy guides EIOPA’s priorities and defines the focus areas over the next three years. The strategy provides and integrates EIOPA’s view and mission on how to support the digitalisation of the insurance and pensions sectors, of national competent authorities (NCAs) and of EIOPA itself.
Under the objective of promoting consumer protection and financial stability, EIOPA identified three key long-term priorities:
- ensuring innovation is aligned with the best interests of consumers taking into account digital ethics and financial inclusion;
- strengthening business model sustainability and resilience of all insurance market players;
- enhancing the supervisory capabilities of EIOPA and NCAs by maintaining the standard of efficient prudential and conduct supervision as well as responding to and using technological innovation.
In implementing the strategy, EIOPA will consider the best interest of consumers first, adopting a technology neutral approach. EIOPA also aims to be flexible to keep pace with innovation, without compromising its mission.
EIOPA’s role will range from monitoring developments, facilitating and promoting innovation, contributing to digitalisation of NCAs and implementing its own digital transformation.