Portugal's Insurance and Pension Funds Supervisory Authority (ASF) published its 2026–2028 Strategic Plan, setting out the mission, values and five strategic priorities that will guide its regulatory and supervisory work across insurance and pension funds. The plan positions ASF’s agenda around simplifying and strengthening supervision while addressing protection gaps for households and firms, and scaling the use of data, digital tools and artificial intelligence in supervisory processes. The priorities cover: purpose-driven regulation and impactful supervision, including a review to reduce unnecessary complexity and burdens while preserving financial stability and consumer protection; more proactive, risk-impact-based supervision with on-site inspections, stronger conduct supervision focused on consumer outcomes, and embedding sustainability into prudential and conduct work including action against greenwashing. ASF also aims to catalyse social resilience by promoting retirement savings solutions aligned with the EU’s Savings and Investment Union, developing regulatory approaches to longevity-related needs such as “smart decumulation”, long-term health insurance and reverse mortgages, and leading proposals for a pre-funded shared-responsibility model to improve coverage for natural catastrophes such as earthquakes, wildfires and floods. On innovation, the plan emphasises supervision of digital operational resilience, including cyber and outsourcing risks, alongside clearer conditions for safe and ethical adoption of technologies such as AI. A dedicated data priority focuses on a centralised, secure data architecture, modernised data collection and governance, and advanced analytics including early-warning models and AI for unstructured information, complemented by internal changes to build merit-based talent development, centralise selected support activities, modernise processes and upskill staff in leadership and analytical capabilities.

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