Insurance Distribution Directive (IDD) Training Course

As it does with any new legislation, the EU Commission conducted a post-implementation check on how the IMD was bedding in, and this review reached the conclusion that there was a need to review and recast the Directive.

In 2016, the EU updated the regulatory framework for the sale of insurance by introducing the Insurance Distribution Directive (IDD), which has repealed and replaced the IMD. The IDD was implemented on 1 October 2018.

Educate your employees on the IDD, the key elements of the new Directive and the rule modifications that will be required in day-to-day business.

About this Course

This SCORM-compatible course is part of our Insurance Course Library.

The library is available in the Skillcast Standard plan for larger companies or Skillcast Basic plan for those with under 50 learners.

Learning Objectives

This course will prepare your employees to:

Describe what the IDD is and the scope of its application
Explain the key elements of the Directive
Outline the rules introduced by the Directive

Course Outline

Introduction

Background

Scope of IDD

- IDD key areas
- Exemption

Professional, organisational & prudential requirements

- Staff knowledge and ability
- Staff knowledge and ability
- Professional Indemnity Insurance (PII)
- Protecting customers' money (CASS)
- Restriction on the use of intermediaries

Conduct of business requirements: General Insurance

ICOBS 2: Overarching requirements

ICOBS 4: Pre-contract disclosures

- ICOBS 4: Pre-contract disclosures
- What do you think?

ICOBS 5: Advised and non-advised sales

- What do you think?

ICOBS 6A: Sales practices

Scenario

Conduct of business requirements: Life business

- Inducements
- Suitability
- Appropriateness

Other requirements

- Conflicts of interest
- Product oversight and governance
- Professional requirements

Ancillary Insurance Intermediaries (AIIs)

- Ancillary Insurance Intermediaries (AIIs)

Summary

Affirmation

Assessment

Course Specifications

Structure

Approximately 45-minute long e-learning course followed by a 10-question assessment.

Audience

Suitable for all staff - examples and interactivities designed for staff at all levels. No previous knowledge or experience is required.

Design

SHARD-compliant, responsive display on all devices, accessibility on screen readers, visual design controlled via a client style sheet.

Compatibility

All Windows, Mac OSX, iOS, Android (Flash-free for mobile compatibility). AICC and SCORM 1.2-compliant, suitable for both hosted and deployed SCORM or AICC.