Insurance and Pension Denmark (I&P Denmark) has welcomed the European Commission's Digital Omnibus package, emphasising that the insurance and pensions industry has a "special obligation" to use artificial intelligence (AI) responsibly.

The commission's package contains several changes that are expected to be of great importance for businesses and authorities, especially in the area of AI and in relation to data use. 

I&P Denmark said the new package strikes a good balance between simplifying and removing burdens without removing protection, with I&P Denmark deputy director for digitalisation policy, Sigrid Floor Toft, describing it as an "important step in the right direction". 

"The proposal for a Digital Omnibus shows that the Commission is listening to the desire to simplify and strengthen competitiveness. Companies need rules that protect citizens and data – but which are also clear and unambiguous," she stated. 

In particular, I&P Denmark said it is a good sign that more time is now being given to implement the most comprehensive requirements around AI, describing this as a "wise decision" by the commission. 

As part of its proposals, the EU Commission has proposed delaying certain obligations under the EU’s AI Act for “high-risk” AI systems, so that companies would only have to apply full high-risk rules once technical standards, guidance, and support tools are in place

"An extended transition period gives companies a real opportunity to build solid and responsible governance structures without innovation being slowed down by unrealistic timetables," Floor Toft stated.

This was not the only change outlined, however, as one of the most talked about elements of the package is the adjustments to the GDPR rules, intended to make it easier to use data for AI training.

I&P welcomed this proposal, suggesting that the clarifications to the General Data Protection Regulation (GDPR), including better clarification of anonymisation rules, can make it easier and more legally secure to use data in AI development. 

Floor Toft stated: "The insurance and pensions industry is already working with a responsible approach to AI.

"Clear and modern data rules will help us develop even better solutions for customers – without compromising basic privacy protection or compromising security and trust."

However, she also stressed the need for pension and insurance professionals to take particular notice of emerging risks, arguing that the insurance and pensions industry has a special obligation to use artificial intelligence responsibly.

"We must not only exploit the opportunities – we must live up to our commitment to customers about transparency, fairness and security," she said.

Proposals around the harmonisation and simplification of the reporting of data breaches and security incidents were also praised by I&P Denmark, as it suggested that this would help reduce bureaucracy without undermining transparency and accountability.

However, Floor Toft stressed that whilst this is an important step, it is only the first step in the journey to change.

"Simplification should not be a one-off exercise. We hope that the Commission will continue in the same direction – with more initiatives that support responsible innovation in the insurance and pension industry," she stated.

"Our ambition is a digital future where we can develop strong solutions for the benefit of our customers, but without compromising trust or data protection."

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