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Veröffentlicht 08.06.2026
At ITC Europe last week, Markel’s Chief Risk Officer for Europe, Matthias Schneider, joined industry leaders to discuss a pressing question for businesses across the continent: Why does Europe continue to struggle to scale innovation?
Europe is home to world-class talent, leading universities and a thriving startup ecosystem. Yet many innovative businesses still face significant challenges when it comes to achieving scale. While innovation often begins with great ideas, sustainable growth requires the right environment, access to capital, effective regulation, and the ability to manage risk in an increasingly complex world.
As organisations navigate rapid technological change, geopolitical uncertainty, evolving customer expectations, and increasing regulatory requirements, resilience has become a critical enabler of innovation. Businesses must be able to embrace new opportunities while maintaining robust governance, managing emerging risks, and protecting long-term value.
Key takeaways from the discussion
For many businesses, regulation in Europe is still framed as the enemy of innovation; a brake on speed, ambition and scale. But that view misses a more important point: when rules are clear, proportionate and flexible, they can create the trust and certainty companies need to invest, grow and bring new ideas to market. In that sense, regulation is not simply a constraint; it can be part of the infrastructure that makes innovation possible. Most importantly, an insurance company can focus on one regulator and has a clear set of Solvency II rules.
Risk management is often seen as a brake on innovation, when in reality it should act as an enabler of growth. One practical example discussed during the panel was insurance: new products like cyber can only scale if risks are properly understood, priced and governed not after launch, but from the outset. Here experience, data and oversight can help to understand the risks involved. It leads to new products and risk coverages in whole Europe in a shorter period of time compared to a fragmented market.
Resilience depends not only on strong central governance, but on a target operating model that gives local businesses the freedom to act and respects the different cultures across countries. In diverse European markets, long-term success requires enough local autonomy to respond to customers, regulation and market conditions in ways that fit each country’s business culture. It diversifies by nature.
Looking ahead
The discussion highlighted the importance of balancing innovation with responsibility. Regulation plays a vital role in creating trust and stability, but it must also evolve alongside technological advancements to support growth rather than inadvertently hinder it.
Risk management also has a key role to play. Effective risk frameworks should not be viewed solely as safeguards but as strategic tools that enable organizations to innovate with confidence. By understanding potential challenges and building resilience into their operations, businesses can pursue growth opportunities while remaining adaptable in a changing environment.
ITC Europe provide valuable opportunities for industry leaders to exchange perspectives, challenge conventional thinking, and explore practical solutions to shared challenges. These conversations are critical as we collectively work towards creating an environment where innovation can thrive and scale.