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EU insurance sector seeing increasing digitalization, supervisory report says

( April 30, 2024, 11:18 GMT | Official Statement) -- MLex Summary: Insurance products and services in the EU have seen their design, development and distribution increasingly affected by digitalization, according to the European Insurance and Occupational Pensions Authority. A report published by Eiopa today presents the results of a market-wide monitoring survey from 2023. It found that while the level of digitalization among European insurers is varied and generally at an early stage, half of the non-life insurance respondents to the survey already use artificial intelligence. It also said that the use of chatbots is expected to rise significantly.Press release follows. The report is attached....

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