Summary of workshop on insurers’ critical functions and digital innovation
On Tuesday 20 July 2023, the FSB’s Cross-border Crisis Management Working Group for Insurers (iCBCM) held a virtual workshop on resolution planning for insurers. It focused on two topics within the scope of iCBCM’s work: critical functions and digital innovation.
The workshop was an opportunity to share authorities’ practices with industry stakeholders and to hear views from industry experts on various elements regarding the identification of critical functions. It was also an opportunity to discuss the impact of digital innovation in the insurance industry on resolution planning.
This note provides an informal summary of the discussions from the day. The workshop was an input into the FSB’s paper on the identification of critical functions of insurers.