PIERPAOLO MARANO | Professor of Insurance Law, Catholic University of the Sacred Heart, Milan, Italy, and University of Latvia, Riga, Latvia
MICHELE SIRI | Jean Monnet Professor of European Union Financial and Insurance Markets Regulation,
Department of Law, University of Genoa, Italy


The European Union (E.U.) is one of the leading financial and insurance markets in the world. Fintech and insurtech have also developed in the E.U. The European Commission has taken numerous steps to fully comprehend and evaluate the challenges of applying new technologies to the financial services sector. 

This study provides an overview of the E.U. approach to insurtech from a regulatory point of view. Thus, risk governance within the E.U. Solvency II regime, including the role of the actuarial and risk management functions when dealing with this risk, will be illustrated. This analysis outlines the need for fair treatment of the clients, as protecting policyholders is the main objective of E.U. regulations and supervision in insurance.