Question ID: 3397
Regulation Reference: (EU) No 2016/97 - Insurance Distribution Directive
Topic: Scope (Art. 1 IDD), Registration (Art. 3 IDD), Principle to act in accordance with the best interest (Art. 17 IDD)
Article: N/A
Status: Rejected
Date of submission: 29 Jul 2025
Question
Before advancing to a public launch, I am seeking your guidance on: The essential regulatory requirements and procedures for operating a digital insurance marketplace of this nature in Europe, Any specific licensing, registration, or authorization pathways for insurtech solutions using satellite analytics and smart contracts, Key consumer protection, data privacy, and cybersecurity obligations, Any guidance, documentation, or contact points for startups preparing for compliance in this field. Our goal is to ensure full alignment with all relevant regulations from the outset. I greatly appreciate any orientation or resources you can provide as we refine our business model and compliance approach.
EIOPA answer
This question has been rejected because the Q&As process cannot be used for bespoke advice.
If you plan to launch an insurance intermediary business, the Insurance Distribution Directive (IDD) develops some specific requirements notably in terms of registration (e.g. Chapter II of the IDD).
In addition, please be aware that one of the general principles of the IDD is that insurance distributors always act honestly, fairly and professionally in accordance with the best interests of their customers (cf. article 17.1).
For any specific information in relation with the IDD framework, you can consult the following page in our website : Insurance Distribution Directive (IDD) - EIOPA