XPRIMM: What are the key strategic priorities for Insurance Europe in 2025, and how do you plan to address them amid the current economic and geopolitical challenges?

Thea Utoft Høj Jensen: The geopolitical and economic uncertainty we’re facing - whether it’s inflation, climate risks, or global tensions - has underscored the role of insurance as an important layer of protection for society. This is why we are advocating for a regulatory framework that enables insurers to continue to effectively cover risks and invest long-term. We're engaging closely with European institutions and policymakers to ensure our sector can keep doing what it does best – protect people and help helping economies grow by focussing on four priority areas.

One major priority is firstly helping to contribute to the EU’s Savings and Investments Union (SIU). The idea is to give Europeans better opportunities to grow their savings, while also making it easier to channel those savings into investments. But for insurers to really contribute, we need regulation that lets us invest long-term and offer attractive pension and savings products. That’s why we’re working with policymakers on areas such as the EU’s Solvency II and the Retail Investment Strategy.

Secondly, with our members from across Europe, we want to show the real value our sector brings - to individuals, society, and the economy. We want to highlight just how essential insurance is, especially in times of crisis.

Thirdly, we are focussed on the industry’s role in the digital transition. Insurers are embracing new technologies in areas like AI and data. What we need is a policy environment that supports innovation without adding unnecessary red tape. And of course, we’re also working to build trust - by showing we can use data responsibly and fairly.

And finally, strengthening climate resilience continues to be a major focus. With natural catastrophes becoming more frequent and severe, it’s more important than ever that insurance continues to play a central role in helping people and communities. We’re involved in several EU-level initiatives to improve preparedness and close protection gaps, and we’re pushing for solutions that reflect the complex realities across Europe.

XPRIMM: In your view, how can the insurance industry contribute more effectively to Europe’s green and digital transitions? What barriers still need to be overcome to achieve this?

T.U.H.J.: Insurers are in a unique position to support both transitions. On the green transition, we’re major institutional investors and are already channeling billions of euros into sustainable infrastructure, renewable energy, and climate-resilient projects. As I mentioned earlier, the industry is using new technologies to transform how we interact with customers through AI, data analytics, and digital distribution.

However, there are still many challenges. Data accessibility is a one: we need better access to data if the industry is to accurately assess and price risks. We also need regulation that supports innovation without stifling it, and sustainable investment rules that are clear, consistent, and workable in practice.

XPRIMM: You’ve highlighted the need for a level playing field, especially with the rise of digital players in the insurance space. What regulatory steps do you believe are necessary to ensure fair competition across the market?

T.U.H.J.: The rise of tech companies is a welcome sign of innovation, but it must be coupled with fair oversight, particularly as digitalization and AI continue to transform our industry. A level playing field should ensure that if two companies provide a similar service, they should be subject to the same rules - particularly around consumer protection, data privacy and data protection.

New players and traditional insurers alike must be held to high standards to safeguard consumer trust, financial resilience and fair competition. We need a regulatory framework that reflects the new realities of digital distribution, while ensuring that new businesses don’t bypass the high standards traditional insurers uphold. That includes making sure supervision is balanced, and that regulators have the tools to monitor digital players just as closely as they do traditional firms.

Regulation must be clear, future-focused, proportionate and risk-based, promoting innovation while maintaining a secure and sustainable insurance market.

XPRIMM: How can the role of insurers as long-term investors be better leveraged, particularly within the European Commission’s Savings and Investments Union initiative?

T.U.H.J.: Insurers are already amongst Europe’s largest institutional investors, and we have a long-term outlook due to the nature of our liabilities. Insurers are therefore naturally very well-placed to contribute to the SIU objectives.

But for insurers to do more, we need the right regulatory environment. That means refining some aspects of Solvency II that disincentivise long-term investments. We’re engaging with policymakers to ensure that the outcome of the review introduces improvements that can increase insurers’ investment capacity whilst maintaining the robust level of protection that already exists.

XPRIMM: Looking at Central and Eastern Europe – and Romania specifically – what do you see as the main opportunities and risks for the insurance market in the coming years?

T.U.H.J.: The Romanian insurance market is one of the most developed in Central and Eastern Europe, with both life and non-life sectors showing steady growth over the years. As penetration rates are still relatively moderate, there’s potential to expand insurance coverage, especially in life and health insurance. In Romania, for example, we see growing demand for digital services, personal pensions, and natural catastrophe insurance. Cross-border collaboration and more targeted education initiatives can also help unlock that potential while managing the risks.


XPRIMM: How do you see the future of collaboration between national insurance associations, such as UNSAR, and European-level organizations in shaping effective industry policy?

T.U.H.J.: That collaboration is absolutely essential. UNSAR brings invaluable local market knowledge, while Insurance Europe provides a platform to bring this voice to European policymakers. We represent the interests of all European markets and depend on the expertise of each of our members to contribute to building face-based credible positions. As policymaking becomes increasingly complex, this partnership is only going to become more important. Together, we can shape policies that work both at European and national level.

XPRIMM: As digitalization and AI continue to reshape the insurance landscape, how should the industry strike a balance between innovation, customer protection, and regulatory compliance?

T.U.H.J.: Trust is the foundation of our industry. Innovation can greatly enhance customer experiences, whether it delivers faster claims handling, more accurate risk assessments, or more personalized products. Today, digitalisation and AI are enabling insurers to offer faster, more accessible, and tailored solutions that better match the needs of consumers.

AI brings enormous potential but at the same time questions around data privacy, fairness, and transparency must be carefully addressed to strengthen, not undermine, consumer trust. That’s why we support smart regulation like the EU’s AI Act that places a focus on trustworthy AI, as long as it doesn’t hinder innovation and allows insurers to continue to deploy AI. Insurers of course have a duty to embed ethical standards and robust governance around how AI is used.

XPRIMM: As the new Director General of Insurance Europe, what is your vision for the organization’s role in promoting a more resilient and forward-looking insurance sector across Europe?

My vision is for Insurance Europe to work at European level in consideration of our member’s markets to continue to find common positions that shape EU policy that supports a thriving insurance industry. It is fundamental that we are an active credible partner that offers solutions. We’re here to advocate for an industry that listens and engages with policymakers, consumers, and peers across the financial services sector. If we do that well, the insurance sector will continue to be one of Europe’s key pillars of protection.