IDD insurance regulations
Compliance with the Insurance Distribution Directive
Insurance Product Information Document (IPID) and suitability and appropriateness test. If your company works in the area of insurance distribution, these concepts will be familiar to you, especially since the transposition and entry into force of the IDD (Insurance Distribution Directive). The objective is to reinforce transparency and consumer protection, and this obliges you to a complex management, accreditable and with full probative value, in case of direct or judicial claim.
At Customer Comms, we provide your company with an omnichannel solution to comply with the IDD with all the guarantees. We generate the IPID, send it through any channel, according to the user’s preferences, and include functionalities such as electronic signature, proof of receipt, digital certification and custody of evidence. We also submit suitability tests, in the case of life insurance based on risky investment products, and manage user responses with a high level of evidence.
Benefits
Generate, with the look & feel of your company, IPID and IBIP information documents, suitability and appropriateness tests and contracts in printed or digital formats.
Distribute documents in an omnichannel way and allow your users to manage them through the device of their choice at any time.
Improve signature rates and acceptance of terms and conditions.
Certifies the delivery of IPIDs and IBIPs and integrates the electronic signature in the suitability and convenience tests.
Custody and digitization of responses and evidence of the process.
You are interested if you are looking for…
- Minimize risks of noncompliance with IDD and, therefore, of significant penalties.
- Integrate IDD requirements through the advantages of digital transformation.
- Work with a single digital communications and compliance provider, specializing in insurance industry regulations and stakeholders.
- To have the necessary evidence in case of a possible claim from customers or regulators such as AEPD, CNMV, DGSFP or Bank of Spain.
Find out how IDD-compliant legal communications work
