Insurance Europe has published its response to a consultation by the European Commission on its upcoming proposal for a Data Act, which aims to facilitate access to and use of data, including business-to business and business-to-government.
Data
sharing offers significant opportunities for the insurance sector and
its customers. With access to and exchange of more types of data, the
insurance industry will be able to offer enhanced products and serve
customers more effectively by, for example, improving existing risk
models.
Insurers currently, however, face multiple challenges when
requesting access to other companies’ data, including legal, technical
and competition law concerns. For this reason, the EC’s proposal should
take measures to facilitate data collaboration and data partnerships.
Individuals
should also be able to grant other parties access to the data generated
by them: eg if a customer decides that an insurer may access their
driving data, the vehicle manufacturer should grant access on reasonable
terms.
Insurance Europe also welcomes the EC's objective to
establish a more competitive market for cloud computing services. The
concentration of cloud service providers results in a lack of
competition in the market and an imbalance in the negotiating power
between the parties. The concentration of market power among a few
large cloud providers contributes to the limited possibility to switch
providers and standard terms and conditions that are offered on a
take-it-or-leave-it basis.
Insurance Europe
© InsuranceEurope
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