Mapfre com­pletes in­sur­ance dis­tri­bu­tion train­ing across its net­work of Tied In­sur­ance In­ter­me­di­aries

The Malta Independent on Sunday - - BUSINESS & FINANCE -

Mapfre MSV Life and Mapfre Mid­dle­sea have com­pleted an ex­ten­sive pro­gramme for all their Tied In­sur­ance In­ter­me­di­aries fo­cus­ing on knowl­edge and abil­ity train­ing in line with the pro­vi­sions of the In­sur­ance Dis­tri­bu­tion Di­rec­tive as trans­posed into the lo­cal leg­isla­tive and reg­u­la­tory frame­work, with ef­fect from 1 Oc­to­ber this year.

The train­ing, which was at­tended by over 600 in­sur­ance au­tho­rised dis­trib­u­tors, was con­ducted by of­fi­cials from both com­pa­nies. Eleven sep­a­rate train­ing pro­grammes were or­gan­ised, which ended last month.

The train­ing pro­grammes un­der­score the im­por­tance of the knowl­edge and abil­ity pro­vi­sions of the In­sur­ance Dis­tri­bu­tion Di­rec­tive cou­pled with the con­tin­u­ous pro­fes­sional devel­op­ment re­quire­ments that have been in­tro­duced.

Such pro­vi­sions ap­ply across all dis­trib­u­tors of in­sur­ance prod­ucts. They are aimed at en­sur­ing that the cus­tomer is pro­vided with a bet­ter ex­pe­ri­ence when en­quir­ing about and pur­chas­ing in­sur­ance prod­ucts, stan­dard­iz­ing sales prac­tices and en­sur­ing that the prod­ucts dis­trib­uted meet clients' de­mands and needs.

The In­sur­ance Dis­tri­bu­tion Di­rec­tive seeks to en­hance con­sumer pro­tec­tion and the co­or­di­na­tion of na­tional pro­vi­sions on pro­fes­sional re­quire­ments and reg­is­tra­tion of per­sons tak­ing up and pur­su­ing the ac­tiv­ity of in­sur­ance or rein­sur­ance dis­tri­bu­tion, all deemed to be an im­por­tant con­trib­u­tor in this re­gard.

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