The Insurance Distribution Directive impacts organisations on four levels
Impact on the offer creation and follow-up processes, and requirement to prove the analysis of customer needs.
Impact on sales processes, especially to integrate the information and advice dimensions over the entire product life cycle
Impact on prevention, detection and management of conflicts of interest and the review of compensation agreements and protocols
Organisational changes imposed by the directive, on training aspects, drafting of new documents and regulatory watch in particular
Developments in sales, reporting and back office tools to monitor business evolutions required by the Directive
Knowledge of legislation and business impact, ability to take advantage of a regulatory obligation as an axis of optimisation and transformation, methods of workshop animation, and the pace given to the project: our consultants assist you in IDD implementation compliance on all pillars of consumer information and advice obligations, professional requirements, transparency with the public, product governance and supervision.
To best meet the IDD requirements, our consultants help you adapt your business’s processes in order to support your transformation and changes in your practices, with the aim of optimising distribution and customer relations.
A large number of recurring tasks that meet strict rules need to be integrated into your processes: artificial intelligence solutions will accelerate and secure your operations. To enable effective adaptation to the IDD, our consultants assist you in choosing and implementing AI tools.
Insurance products training, review of distribution agreements, design and management of product validation cycles, definition of product change control reports: these are our teams’ areas of expertise.
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ORGANISATION PERFORMANCE AND OPERATIONAL EFFICIENCY
Measure your operational performance with regards to the market and identify the right levers for improvement; support change