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January 30, 2018

EIOPA published the updated work program for 2018. The work program highlights and specifies the planned activities and tasks of EIOPA for the coming year, within the framework of a multiannual work program for 2017-2019.

The key strategic priorities of EIOPA for 2018 revolve around::

  • Strengthen the protection of consumers
  • Improving the functioning of the EU internal market in the field of pensions and insurance
  • Strengthening the financial stability of the insurance and occupational pensions sectors

To develop and strengthen the regulatory framework for consumer protection, this year, EIOPA will prioritize consistent implementation of the Insurance Distribution Directive (IDD) and packaged retail investment and insurance-based investment products (PRIIPs). Additionally, keeping in mind the increasing importance of InsurTech, EIOPA has introduced, into its annual work program, the cross-cutting theme of InsurTech. Its objective being to promote supervisory convergence, facilitate a level playing field throughout Europe based on the principle of proportionality, and pursue a technology neutral approach to financial innovation. Work will be undertaken via a cross-departmental task force to help ensure that financial innovation by means of the ongoing digitalization affecting existing and evolving business and distribution models does not develop in a manner that causes undue detriment of consumers. 

 

Related Link: Work Program for 2018

Keywords: Europe, EU, Insurance, Work Program 2018, Consumer Protection, Insurtech, EIOPA

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