Insurance Europe

Europe’s insurance market serves people and businesses with different needs, priorities and budgets. Its wide range of products, providers and distribution channels helps ensure that consumers can find insurance solutions suited to their needs

In its new paper, Insurance Europe highlights the importance of preserving this diversity to support consumer choice, inclusion and market resilience.

The paper highlights three complementary dimensions of Europe’s insurance market:

• Diversity of products: From protection against everyday risks to long-term savings, investment and retirement planning, different insurance solutions help people and businesses meet their specific needs.
• Diversity of distribution channels: Direct sales, agents, brokers and banks, supported by digital solutions, enable consumers to access insurance and advice in ways they know and trust. The mix varies across countries and types of insurance, reflecting local habits and preferences.
• Diversity of providers: Global and multi-line insurers, specialist providers, and mutual and regional insurers combine scale, technical expertise and local knowledge to serve different consumer and business needs.

Insurance Europe calls on EU institutions to safeguard this diversity and adopt a proportionate and inclusive approach that avoids overly prescriptive, one-size-fits-all rules, respects local market structures and supports innovation and competition. By recognising the diversity of Europe’s insurance market, EU policymakers can help ensure that people and businesses continue to access the protection they need.

Read the paper here