To help people to better understand financial products in 2018, Insurance Europe, the European insurance and reinsurance federation, has published five new year’s resolutions to help insurance customers to insure wisely.
The federation has also published a new web portal showcasing a broad selection of financial education initiatives by the European insurance industry to increase financial literacy and the understanding of insurance in all parts of society.
Michaela Koller, director general of Insurance Europe, commented: “Financial literacy is a core life skill that enables people to take control of their finances and their insurance cover. Initiatives to increase financial literacy are important, because when people better understand the products they buy, they can make more informed choices and achieve better results.”
The industry initiatives outlined in the web portal demonstrate European insurers’ commitment to raising financial literacy and awareness levels across Europe. Insurance Europe also encourages EU policymakers and regulators to play a greater role in supporting this objective. For example, the federation is calling on the European Commission to consider putting forward a recommendation to encourage the adoption of national financial education strategies in EU member states and the incorporation of financial literacy components into school curricula.