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Product governance for Insurance in the EU

Product Governance for Insurers in the EU



Defining what we’re talking about – product governance, manufacturers, distributors

Key Materials IDD, EIOPA Guidelines & what rules/guidance apply to what?


Governance & Systems

The product governance arrangements – participants & structures

Independent challenge & membership of the arrangement/committee

Product oversight and governance policy

Proportionality requirement

Ongoing issues – conflicts of interest, joint-manufacturing

Different types of product reviews and ongoing monitoring

Product risk management

Oversight by senior management and compliance

Review of the process


The Tasks


Identifying Target Market

Positive and negative

Its needs, characteristics and objectives

Effect of value for money


Product design

Core design

Developing the spec and working with outsourcers

Risk premium

Value measures – over the relevant period

Defining value

Effect of distribution chains on value

Avoiding pricing punishing loyalty & vulnerability

Cost of premium finance

Assessing value and management information

Effect of add-ons and packages

Regulator & compensation scheme


Product Testing

Testing what

Procedures for testing

Value measures



Distribution strategy

Managing distribution chains

Monitoring distributors


Material for distributors

Tests depending on intended recipients

Disclosure of product review materials


Distributors’ duties

Identification of target market – use of manufacturers’ target

Obtaining information about the product

Duty to co-operate

Assessment of value


Post-launch monitoring & ongoing review

Key management information

Checking that product still offers fair value

Check that product delivers what customer reasonably expects

Handling product failures

Dealing with regulators



Get in touch

Contact Adam by e-mail, phone or post at:

E-Mail: or

Mobile: 07900 248150

The Attic, 117 Priory Road, London NW6 3NN.