The IDD and Digital “Cross-Selling” In recent years, online distribution of insurance as add-on has become common practice. That said, find below four examples for online ancillary insurance intermediaries: An airline offers – embedded in the online booking process – a parametric flight delay insurance, which automatically compensates the insured Read more…
Die IDD setzt Maßstäbe für alle Versicherungsvermittler IDD sets high standards for the sale of insurance products, regardless of whether they are distributed online or offline. Even simple insurance products, such as travel cancellation insurances, extended warranties for electrical appliances or mobile phone insurances, are affected. Travel agents or electronic Read more…
Providing the documents for online insurance distribution The cross-border online insurance distribution of non-life insurance products within the EU has long been a common sales channel. However, different national laws always created an obstacle to the cross-border insurance distribution. The IDD largely harmonizes the legal requirements for online insurance distribution Read more…
How the end customer benefits from IDD and what matters In our last blog article about the Insurance Distribution Directive (IDD) we have described how you can make the provision of information IDD-compliant. The IDD increases transparency since insurance intermediaries are now obliged to provide the customers with the mandatory information Read more…
How to realize the IDD-compliant provision of information in the online sales process As a basic principle all mandatory information, in our case the IDD-compliant provision of information shall be provided to the client on paper, on the website or on a durable data carrier (paperless). Hence the information shall be provided: in a Read more…
Insurance Distribution Directive (“IDD”) – obstacle or opportunity? The Europe-wide implemented Insurance Distribution Directive (“IDD”), also known as Directive (EU) 2016/97, leads to major changes in the insurance distribution. We try to analyze the IDD and its consequences. IDD and its consequences for online insurance distribution through intermediaries On June Read more…