The future of differential pricing in Europe:

The European Insurance and Occupational Pensions Authority’s (EIOPA) recent supervisory statement on differential pricing practices signals a clamp-down on “unfair” pricing practices across Europe. Some local regulators, including Germany, the Netherlands, Ireland, and Italy, have already taken action to tackle this issue and it is only a matter of time before others follow suit. With the potential for significant disruption on the horizon, insurers, Managing General Agents (MGAs), brokers and distributors can take lessons from the impact of similar regulations in the UK, implemented at the start of 2022.

In particular, along with sizable impacts on average new business and renewal business prices, the reforms have induced market volatility and affected customer shopping behaviours. In addition, firms have made significant changes to pricing models to ensure compliance and are now subject to increased governance requirements and regulatory supervision.

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