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Insight briefing: Big data and its big benefits for insurance consumers

Insurance Europe's insight briefing about how insurers’ use of big data can benefit consumers provides various examples of these benefits: for example, it explains how pay as you drive motor insurance policies enable insurers to tailor insurance premiums, resulting in savings for good drivers.

The briefing says that, while there is no specific regulation on big data, there are already several EU rules that are relevant and applicable to its use in insurance, such as EU rules on privacy, insurance distribution, disclosures, distance marketing and equal treatment. As such, there is currently no need for further regulatory measures, as there is already a comprehensive set of rules ensuring the responsible use of big data in insurance.

Published 23 January 2019
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