Governance and control of insurance products: experiences, applications and European comparisons

The conference organized by Algoritmic® entitled “Governance and control of insurance products: experiences, applications and European comparisons” was held yesterday in Milan.

We thought of this opportunity to delve into and discuss the dynamics related to the governance and control of insurance products, with institutional speakers and industry experts ready to share their knowledge and experiences. It was also an opportunity to present an innovative theoretical framework for calculating the Value for Money for non-IBIPs products, both Life and Non-Life, developed by Algoritmic®, based on the criterion of Percentile Utility.

A heartfelt thanks, with affection and esteem, goes to all the speakers: Andrea Cabrini, who managed all the interventions that took place during the morning in his own way, Riccardo Cesari who presented a very interesting report on the state of the art of POG in Italy and on the Supervisory actions carried out by IVASS, Fausto Parente who enlivened the audience with some interesting ideas on the approach adopted by EIOPA in terms of product governance and control. The morning then continued with Michele Siri who analyzed the legislation relating to Value for Money with specific reference to IBIPs products and with Pierpaolo Marano who focused on the status at European level of the application of the legislation relating to Value for Money for non-IBIPs Life and Damage products.

It was precisely on these products that the speech of Paolo De Angelis focused, who presented with the usual competence and methodological rigor the methodological framework developed by Algoritmic® for the evaluation of Value for Money based on the criterion of Percentile Utility.

The morning was closed by Dario Focarelli who in his turn stimulated the audience with very interesting reflections and suggestions.

In the afternoon the round table coordinated by Nino Savelli provided further food for thought thanks to the contribution of Matteo Campaner, of Cristina Morpurgo, of Loris Marzini and of Lorenzo Nardi.

Finally, thanks and greetings to all the participants who contributed to making the day unique.

Attached are the presentations used by some speakers to support their reports:

• Riccardo Cesari – LA VIGILANZA SUI PRODOTTI ASSICURATIVI.
• Fausto Parente – IL LAVORO DELL’EIOPA SUL VALUE FOR MONEY. 
• Paolo De Angelis – IL VALUE FOR MONEY PER I PRODOTTI DANNI E I PRODOTTI VITA NON IBIP: UN MODELLO ECONOMICO RISK BASED LATO ASSICURATO.