Nonetheless, accurate, timely and complete regulatory reporting is critical to the effectiveness of supervision. We will continue to assess firms’ compliance with reporting and disclosure requirements on an on-going basis. I will focus the remainder of my remarks on the main topic of today’s conference.
3) InsurTech & innovation The risks, impacts and opportunities for the insurance industry arising from technology changes are a key focus both locally and internationally. EIOPA 9 and the IAIS10 have held roundtables and issued papers on insurance technology (Insurtech) and financial technology (Fintech) firms. History is replete with examples of industries being transformed, created and disrupted by technology changes.