KOLLER: We need to focus more on prevention to properly respond to the cyber risks challenge

"Implementation of the Solvency II regime in Russia will be a very complex process, but it is very good thing that it started and Insurance Europe is happy to support it all along," Michaela KOLLER, Director General, Insurance Europe said today.

Speaking at the Russian Insurance Summit 2017, in Saint-Petersburg, she gave the European insurers' federation view on the main trends in the industry:

"Digitalization is currently the most important trend in the insurance field. Supervisors have to play an essential role in this regard because the new solutions are mostly provided by start-ups and there must be a convergence of the supervisory measures applied to all players.

Cyber attacks have intensified last year, a trend which seems to continue; considering the growth both in numeber and impact, they became a real concern for the insurance segment. To properly respond this challenge we need to focus more on prevention.

Connected driving is another developing trend, but it will take some time before becoming a dominant one at industry level."

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