OECD – Questionnaire on leveraging digitalisation for risk prevention and mitigation in the insurance sector
EXECUTIVE SUMMARY: In order to gather information for its report on Leveraging digitalisation for risk prevention and mitigation in the insurance sector, the OECD has developed a survey questionnaire.
Please contact your members and ask them to please fill in this survey by 4 March 2022
To the BIPAR member associations
WFII, the World Federation of Insurance Intermediaries, of which BIPAR is a member, follows the work of the OECD-Insurance and Private Pensions Committee (IPCC) and one of its current projects is the drafting of a report on Leveraging digitalization for risk prevention and mitigation in the insurance sector.
The objective of this project is to examine:
• how the insurance sector is using emerging technologies and innovation (e.g. new data sources such as earth observation, new data processing technologies such as artificial intelligence and new communications technologies such as smartphone apps) in assessing risks, underwriting/pricing coverage and providing risk prevention / mitigation advice to policyholders; and
• how regulatory frameworks have adapted (or not) to enable the use of these emerging technologies and innovations.
The project will focus on three lines of business (property insurance, cyber insurance and health and long-term care insurance) where external factors such as climate change, digitalization and ageing populations are increasing the need for insurance to support risk reduction.
In order to gather information for this project, the OECD has developed a survey questionnaire. As the OECD recognizes the important role that insurance intermediaries around the world play in supporting risk management by policyholders, WFII is invited by the OECD to ask its members to respond to this questionnaire.
We kindly ask you that you contact your members and ask them to please fill in this survey by 4 March 2022 (available here).
The OECD has informed us that the information received via this questionnaire will be treated confidentially and anonymized for the purposes of developing the report (unless there are any examples or case studies to which the responder would like to bring attention and not keep confidential).
If your member considers his response to the OECD as non-confidential we would be grateful if we could receive a copy of this response. If the response is confidential we would be grateful, just for our information and in view of our good relationship with the OECD, to receive the name of the contact person who sent the response to the OECD.
Thank you in advance for your help.
Nic De Maesschalck