Methodology on Value for Money Benchmarks for IBIPs

The insurance market is undergoing significant regulatory changes aimed at ensuring transparency, fairness, and consumer protection. One of the key initiatives driven by EIOPA (European Insurance and Occupational Pensions Authority) is the implementation of Value for Money benchmarks for Insurance-Based Investment Products (IBIPs). These benchmarks are designed to help regulators, insurers, and consumers assess whether products deliver fair value relative to their costs and benefits.

This 2-hour training will provide participants with a comprehensive understanding of the regulatory context, the methodology proposed by EIOPA, and its practical implications for the Luxembourg insurance market. By the end of the session, attendees will be equipped to navigate the challenges and opportunities arising from these new expectations.

By the end of this training, participants will be able to:

• understand the regulatory context and EIOPA’s objectives for Value for Money;
• master the benchmark methodology, including product categorisation, key indicators, and practical benchmarking technics;
• explore the impact on the Luxembourg market, with actionable insights for insurers and benefits for consumers.

• Regulator context and expectations for the insurance market
• Value for money benchmark methodology:
  • Overview of the approach proposed by EIOPA and its objectives regarding insurance products
  • Concepts
  • Product categorisation
  • Indicators to consider
  • Benchmarking
• Expected impacts on the Luxembourg market:
  • What are the challenges and recommendations for insurers?
  • What can we expect for consumers?

This training is coordinated by Anthony Dault, Partner and Antonella Argalia, Senior Manager at PwC Luxembourg. It will be delivered by experts from PwC Luxembourg's Insurance sector, who have acquired in their daily work a significant and detailed experience of the issues faced by insurance market players. (Depending on the needs expressed, PwC Luxembourg may mobilise experts within its network).

Anthony is a partner specialised in insurance/reinsurance and international tax structure, and is actively involved in PwC Luxembourg Reinsurance and Insurance Group (RIG), including the insurance and reinsurance regulatory team. Anthony has more than 18 years of experience serving several multinationals, subsidiaries of European and US registered companies reporting under IFRS or Lux GAAP in the insurance and reinsurance sector, starting in 2003 in PwC Paris insurance department and in PwC Luxembourg. In the past years, Anthony has been involved in the development of the PwC Luxembourg insurance regulatory practice, with a strong focus on cross-border distribution as well as regulatory licencing projects. In that context, he co-heads the IDD service offering of PwC Luxembourg, and is a member of the ACA IDD working group.

Antonella is a senior manager in PwC Luxembourg’s insurance practice, with over 25 years of experience in the European insurance industry. She held product management roles at several leading life insurance companies in Luxembourg. She specializes in regulatory projects, product development, and marketing, focusing on wealth solutions for (U)HNWI using unit-linked life insurance products. She is a key contact for insurance regulations, distribution, and product suitability, and leads IDD assistance projects for insurance companies and intermediaries. Her expertise also includes insurance due diligence and regulatory analysis, making her a trusted advisor in the sector.