Digitalisation and Future-Readiness of EU Insurance Supervision

The document is a feedback submission by the DigitalTrade4.EU consortium to the European Commission on the proposed amendments to the Solvency II regulatory framework (Delegated Regulation (EU) 2015/35). It emphasizes the need to future-proof EU insurance supervision by embedding strong digitalisation requirements. The consortium advocates for enhanced digital reporting standards, legal recognition of eIDAS 2.0 digital identities and electronic signatures, systematic use of Legal Entity Identifiers (LEI/vLEI), interoperability with EU digital trade and customs platforms (such as the EU Single Window and ViDA), and proportionate digital compliance for SMEs. It also calls for the integration of ESG data into regulatory reporting to support sustainability goals. The recommendations aim to improve supervisory efficiency, reduce administrative burdens, foster innovation, and position the EU as a global leader in digital insurance supervision.