Insurance Distribution Directive - the essentials
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Insurance Distribution Directive - the essentials New !

courseType Technical Skills, Non Financial Sector

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Mail pwcacademy@lu.pwc.com

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L-2182 Luxembourg
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Cofinancement de la formation: les nouvelles dispositions législatives 2018

Pour plus d'informations veuillez consulter notre article.

Ou directement : Lifelonglearning​​

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General course details

Introduction

The Insurance Distribution Directive (“IDD”) intends to increase market transparency and strengthen customers protection.

The directive impacts all market players involved in the manufacturing and/or distribution of insurance products. To be compliant, manufacturers, intermediaries and third parties may have to review their distribution model but also embrace a new distribution culture.
This training session aims at making IDD requirements understandable for each and every employee, whatever their role within the company. We choose to approach the topic using the “client experience journey” as a basis to ease the understanding of how IDD impacts the daily responsibilities of the various departments and functions.

Objectives

At the end of the training, participants will be able to:
  • Describe the purpose and main objectives of IDD.
  • Apprehend the overall impact of the key requirements on your organization.
  • Clearly understand the risks at stake if employees do not comply in their daily responsibilities. 
  • Explain what IDD means, impacts and how the organization will comply.

Content

  • POG/PDA
Product design and target market
Distribution channels
Continued monitoring
Product distribution arrangement
Governance, monitoring and control
  • Remuneration
The insurance ecosystem remuneration scheme
The risks of conflicts of interests and detrimental impact to customers
The insurance policy costs and charges
Governance, monitoring and control
  • The conflict of interests and detrimental impact to customers
Prevent and manage the risks
Reporting to customers: alternative procedures
  • Distribution & Client’s information
Understand customers demands and needs
Understand the insurance product benefits, risks and costs
Product suitability adequacy
Reporting to customers: suitability and periodic statements
Communication channel
Advice
  • Training
Appropriate knowledge and ability
Training requirements per year

Our lead expert

This training is coordinated by Anthony Dault and will be animated by Insurance experts.
Dault Anthony.jpg
 
Anthony is a Partner specialized in insurance/reinsurance and international tax structure, and is actively involved in PwC Luxembourg Reinsurance and Insurance Group (RIG), including the insurance and reinsurance regulatory team.
Anthony has 14 years of experience serving several multinationals, subsidiaries of European and US registered companies reporting under IFRS or Lux GAAP in the insurance and reinsurance sector, starting in 2003 in PwC Paris insurance department and in PwC Luxembourg.
Anthony has in recent years been involved in the development of the PwC Luxembourg insurance regulatory practice, with a strong focus on cross-border distribution as well as regulatory licencing projects. In that context, he co-heads the IDD service offering of PwC Luxembourg, and is a member of the ACA IDD working group.

Target audience

Professionals of the insurance / reinsurance industry.
Insurance and reinsurance intermediaries (brokers, agents...)
Stakeholders involved in the insurance industry eco-system (e.g. asset managers, bankers...)

The plus of this training

With a view to make IDD requirements simple and understandable for the targeted audience, our delivery approach is based on storytelling. Our expert will accompany the participants through the journey of a client, taking them through identified stages in a post-IDD environment describing how roles and responsibilities evolve and what are the benefits to the final client.

Practical information

Language: English. This training is also available in French.
Duration: 2 hours.
Number of participants: limited to 20 participants, to ensure a high interactivity during the training. 


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