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The future of differential pricing in Europe
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The future of differential pricing in Europe:

Lessons from the UK GIPP reforms

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    Executive Summary

    The European Insurance and Occupational Pensions Authority’s (EIOPA) recent supervisory statement on differential pricing practices signals a clamp-down on “unfair” pricing practices across Europe. Some local regulators, including Germany, the Netherlands, Ireland, and Italy, have already taken action to tackle this issue and it is only a matter of time before others follow suit. With the potential for significant disruption on the horizon, insurers, Managing General Agents (MGAs), brokers and distributors can take lessons from the impact of similar regulations in the UK, implemented at the start of 2022.

    In particular, along with sizable impacts on average new business and renewal business prices, the reforms have induced market volatility and affected customer shopping behaviours. In addition, firms have made significant changes to pricing models to ensure compliance and are now subject to increased governance requirements and regulatory supervision.


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    Massimo Cavadini
    Massimo Cavadini
    Senior Executive Partner
    Massimo is Senior Executive Partner within Insurance Consulting. Massimo has more than 10 years of experience in P&C insurance with a strong focus on insurance pricing & underwriting. Since he joined Munich Re in 2017, Massimo helped clients globally in improving their technical performance by using advanced analytics, in launching motor and property products and in expanding into new markets. Before joining Munich Re, Massimo was a senior pricing analyst in the Global P&C of Generali Group and pricing analyst in the Global P&C of Allianz Group, where he managed technical excellence projects in Europe, Asia and Latam. By training Massimo is a physicist and holds a PhD in Astrophysics.
    Davide Burlon
    Davide Burlon
    Principal / Insurance Consulting
    Within Munich Re’s Insurance Consulting Unit, Davide is leading the development of solutions in personal lines. He is based in Munich, Germany, and works with clients in UK, Europe, Latin America as well as the Middle East. Previously, he headed Actuarial Analytics at Generali (Germany). Davide is Munich Re’s global product owner for the insurance pricing software Akur8. He occasionally writes white papers and gives university lectures or keynote speeches at conferences. Davide worked as Associate Lecturer in Astrophysics at the University of Sydney in Australia and the Max Planck Society in Germany.