Second small insurer symposium centered on digital supervision and opportunities for dialogue

At the second small insurer symposium, FINMA gave a number of presentations in the first part of the event, explaining the changes to customer protection under the revised Insurance Supervision Act (ISA) and the new Insurance Supervision Ordinance (ISO). The speakers also explained the implications for the different supervisory approaches, including personalised and digital supervision. In breakout sessions, the topics of Own Risk and Solvency Assessment (ORSA), the prudent person principle, corporate governance surveys, cyber and intermediaries were explored in greater depth. The afternoon focused on artificial intelligence in the insurance industry.

For the first time in 2024, FINMA offered symposium participants the opportunity to hold short meetings with supervisory experts via a digital app. The offer was well received, with many participants making active use of it.