Maastricht Journal of European and Comparative Law · 2019 · 47 citations · 0 references
European LawEngineeringDigital MarketingLawTechnology LawInsurance DistributionInsurance ComplianceDigital TransformationCustomer ProtectionInsurance Distribution DirectiveRisk ManagementManagementInsurance ContractsCyber InsuranceInsurance RegulationsInsurancePersonal DataConsumer ProtectionDigital EconomyInformation ManagementDigital ServicesMarketingDigital Market ActInsurance MarketsInsurance LawBusinessTechnologyInsurance FraudRegulationInsurance ProductsDigital Intermediaries
InsurTech, the technology-driven transformation of insurance, has led to the emergence of digital intermediaries that distribute contracts, yet the EU’s Insurance Distribution Directive offers no specific standards for these actors. This study examines whether and how the Insurance Distribution Directive applies to digital intermediaries.
Emerging technology-driven innovations in the insurance industry is a trend of recent years. ‘InsurTech’ is the portmanteau describing this phenomenon. Insurance intermediaries are the main distributors of the insurance contracts and several digital intermediaries are already operating with InsurTech. The European Union legal framework on insurance distribution mainly consists of the Insurance Distribution Directive, which came into force a few months ago. However, the Insurance Distribution Directive does not provide standards specifically dictated to these intermediaries. The paper aims to verify, despite this shortcoming, whether and how the recent discipline applies to digital intermediaries.