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Insurance Distribution Directive Workshop

2-Day

Improving customer outcomes by successfully implementing the Insurance Distribution Directive

The Insurance Distribution Directive sets new standards for improving the relationship that insurers and insurance intermediaries have with their customers, and for improving the experience that customers have of the insurance providers.

Effectively implemented, it could improve the image of the industry, grow the market for our products, and strengthen profitability.

This new two-day workshop from LIMRA will help companies to understand what they have to do to comply with the requirements of the Insurance Distribution Directive and how they adapt both their back office and their marketing and sales operations to convert regulatory compliance into market success. 

Program 

Day 1

Day 1 will examine the requirements of the IDD and what this means in practice for product manufacturers, agency forces and independent intermediaries.

What are the requirements?

  • Product Design, Target Markets,  and Governance
  • Conflict of Interest
  • Pre-contract Information provided to client
  • Remuneration and inducements 
  • Suitability requirements
  • Non-advised sales
  • Customer information

Day 2

Day 2 will build on that understanding and examine the changes that companies will have to make to their sales processes, sales management processes and training programmes to really succeed in the new, more transparent and competitive market places that the IDD seeks to create.

What has to change, and how?

  • Product management and promotion
  • The sales process
  • Field remuneration
  • Rewards and recognition
  • Sales management and supervision
  • Agent and sales management training
  • Continuous professional development
  • Customer service

The workshop will end with a planning session in which participants develop a set of critical ‘next steps’ for their company.

This workshop is a 2018 benefit for members in the EMEA region. For more information, please contact Loubna Zhini at lzhini@limra.com