Study on the effect of harmonised IGS standards on consumer perceptions and choice

The study was commissioned by EIOPA and carried out by EY to assess how introducing insurance guarantee schemes (IGS) with minimum common standards influence consumer behaviour in the European insurance market.

It provides a controlled comparison between harmonised arrangements and existing national frameworks, producing insights to inform supervisory and policy considerations. 

The purpose is to assess whether a consistent EU‑wide protection framework affects individuals’ willingness to choose insurance products, their propensity to select cross border providers, their level of trust in the protection system, and their tolerance for premium differences. 

The analysis covers five Member States (MS): Czechia, France, Germany, Spain and Sweden. It focuses on three types of insurance products: household insurance, supplementary health insurance, and life insurance.