Digitalisation

Advancements in digital technologies brings both benefits and challenges to the insurance industry, and the financial sector in general. In recent years, cloud computing is increasingly being used in the insurance sector. As the use of cloud computing services and technology continues to grow, additional regulatory requirements or enhanced supervisory practices may be required which makes it important for supervisors to consider the regulatory and supervisory implications of cloud computing. This consultation call took place on Thursday, 28 November where experts explored the topic of cloud computing and its implication for supervisors. This call drew on FSI Insights paper on Regulating and Supervising the clouds: emerging prudential approaches for insurance companies

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