Insurance Distribution

Massimiliano Maggioni and Giuseppe Turchetti
Additional contact information
Massimiliano Maggioni: University of Milano
Giuseppe Turchetti: Sant’Anna School of Advanced Studies

Chapter 25 in Fundamentals of the Insurance Business, 2024, pp 519-542 from Springer

Abstract: Abstract The chapter aims to lead to an understanding of the role played by an insurance intermediary. Indeed, intermediation consists of facilitating the meeting of demand for and supply of insurance covers in the industry. It is explained that in this directive the guarantee of transparency on the part of distributors, both in terms of costs and disclosures on risk/effective cover of products distributed, is of great importance Lawmakers require, additionally, that a distributor bears in mind the demands and needs of consumers and that monitoring takes place in the period after sales in order to check that the product sold is actually adequate to meet these. Then, four sets of delegated regulations implementing IDD regulations are explained: PRIIPs—Packaged Retail Investment and Insurance Products; (I)PID—Insurance Product Information Document; POG—Product Oversight Governance, i.e. governance of the insurance offering; IBIPs—Insurance Based Investment Products. After this, distribution channels through which insurance undertakings make their products available on the market directly via dedicated owned sales structures or making use of insurance intermediaries are illustrated.

Keywords: Intermediation; Insurance Distribution Directive 2002/92/EC (IMD); Distribution; Insurance Directive 2016/97/EC (IDD); Ecosystem of operators; Product centred vs. Customer centred; Demands and needs; Product Oversight Governance (POG); Manufacturer; Target market; Product testing; Product monitoring and review; Insurance Based Investment Products (IBIPs); Packaged Retail Investment and Insurance Products (PRIIPs); Insurance Product Information Document ((I)PID); Key Information Document (KID); Demands and Needs; Pre-contractual documentation; Distance marketing; Multi-channel and omnichannel; Financial Modernization Act; Gramm-Leach-Bliley Act (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-3-319-52851-9_25

Ordering information: This item can be ordered from
http://www.springer.com/9783319528519

DOI: 10.1007/978-3-319-52851-9_25

Access Statistics for this chapter

More chapters in Springer Texts in Business and Economics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().