Following two extensive surveys carried out with the EU
national competent authorities, EIOPA issued the results of its
findings on the impact of the IDD on consumers, insurance
distributors and supervisory activities.
Most notably, digitalization and the growth of new distribution
models continue to present risks as well as opportunities in the
eyes of national competent authorities. The main challenges arose
at both application stage and at supervising the IDD rules on the
form and timing of disclosures in a digital context and in applying
the IDD in relation to new technologies, such as digital platforms
and artificial intelligence.
Concerns were also raised on the integration of sustainability
factors, risks and preferences into IDD, where the application of
the new sustainability rules illustrate challenges for consumers to
understand the disclosures and complex concepts introduced by the
new rules.
