FIAR 2025 opened on May 26 with the “Insurance Market Trends” conference, spotlighting key industry challenges and priorities. Experts addressed climate risk, regulation, technology, and distribution, urging greater resilience, smarter supervision, and improved consumer engagement to help the insurance sector adapt to a rapidly evolving risk landscape.

Here is a summary of the main statements by the conference Keynote Speakers:

Thea Utoft Høj Jensen (Insurance Europe & GFIA): A Strategic Moment for European Insurers
The Director General of Insurance Europe, Thea Utoft Høj Jensen, emphasized the need for the insurance industry to claim its strategic role within the European project. While insurers are major long-term investors and essential to mobility, sustainability, and financial security, European policymaking still often overlooks their unique characteristics. She warned against regulatory overload and called for smarter legislation aligned with insurers’ long-term commitments and societal value, particularly in areas like climate resilience and retirement savings.

Carlos Guiné (EIOPA): Tackling the Protection Gap with Better Understanding
EIOPA's Head of Sustainability, Carlos Guiné, addressed the widening climate-related protection gap, pointing out that only one-third of damages from extreme weather events are currently insured. He stressed the importance of public awareness and financial literacy, noting that unrealistic expectations about government aid and a limited understanding of insurance products hinder coverage growth. Guiné called for clearer communication, smarter product design, and regulatory initiatives that help societies absorb climate shocks more effectively—with less pressure on public finances and stronger economic resilience.

Sorin Mititelu (ASF Romania): Market Conduct as a Pillar of Stability
ASF Vice President Sorin Mititelu highlighted the essential role of public trust in ensuring a stable and growing insurance market. Beyond solvency, he said, insurers must demonstrate ethical conduct across all operational areas—from product design and claims handling to data management. He pointed to product mispricing and poor claims practices as major sources of reputational and financial risk, advocating for a “value for money” approach and stricter supervision of distribution behaviors.

Alexandru Ciuncan (UNSAR): Romania’s Mixed Signals in Insurance Penetration
UNSAR President Alexandru Ciuncan painted a nuanced picture of the Romanian market: although it is the third-largest in the region by premium volume, its insurance penetration and density indicators remain weak. The market remains overly dependent on motor insurance, despite Romania’s high traffic accident rates. Meanwhile, home and corporate insurance coverage rates are critically low. Ciuncan underscored the disconnect between public concern over risk and actual insurance uptake. He advocated for improved financial education, tax incentives, and stronger public information campaigns to bridge the gap.

Nic De Maesschalck (BIPAR): Distribution in Transition
BIPAR Director General Nic De Maesschalck focused on the evolution of insurance distribution, driven by both regulation and technology. While digital tools enhance efficiency and customer insight, De Maesschalck warned that a wave of regulatory revisions—particularly around the IDD—could increase compliance costs and strain smaller distributors. He advocated for balance, simplicity, and recognition of the growing role of collaborative distribution models, which involve insurers, brokers, and other partners integrating insurance into broader customer experiences.

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The opening session of FIAR 2025 reaffirmed the insurance industry’s central role in building a resilient and financially secure Europe. Yet, as the speakers collectively emphasized, this role requires proactive regulatory adaptation, consumer education, ethical conduct, and strategic use of technology. The industry must move beyond traditional boundaries—of product, channel, and mindset—to close the protection gap and meet the expectations of a changing world.