Mystery shopping - EN

In January 2020, EIOPA received a new mandate to coordinate mystery shopping activities. Accordingly, EIOPA and its members have adopted a phased approach to this coordination mandate.

National Competent Authorities (NCAs), such as the CAA, can use mystery shopping alongside other supervisory tools to exploit the synergies between them.

Mystery shopping is particularly useful because it provides information that helps to detect conduct problems or enables in-depth investigations into existing problems.

Are Luxembourg insurance brokers ready to face up to possible CAA mystery shopping? It's time to find out... let's take a closer look!

The course will cover the regulatory aspects of mystery shopping in the insurance sector and how it can be used as a tool to improve the role of the intermediary.

• What is mystery shopping?
• EIOPA's approach - Aims and objectives
• Understanding the objectives of mystery shopping in insurance
• How mystery shopping improves insurance distribution - Mystery shopping methodology
• Planning and implementation
• Preparation
• Execution
• Analysis and reporting
• Understand your competitors better
• Ensure that you offer the most suitable product to your customers
• Ensure that regulatory best practice is aligned within a given market

Interactive presentations:

• Use of visual presentations to explain key concepts.
• Incorporation of interactive elements such as Q&A and discussion to keep participants engaged.

Quizz

Certificate provided at the end of the session

Hybrid training:

• Videoconference: an e-mail is sent the day before the course with details of the videoconference.
• Face-to-face: PWC Luxembourg - Crystal Park Building - 2 Rue Gerhard Mercator, 2182 Luxembourg

Best practice:

• Arrive 5 to 10 minutes before the course
• Before the course: do an audio test (all too often videoconferences lose 10 to 15 minutes due to connection problems)
• Be punctual for the start of the course

A few recommendations:

• Use headphones
• Use a silent environment
• Have a good internet connection
• Switch off your mobile phone for the duration of the course
• Avoid doing several things at the same time
• Set up in an isolated and convenient place for your cables and to take notes.
• Isolate yourself from all distractions and noise (television, kitchen, etc.) for the duration of your training.
• Set up in your dedicated space, an office for example, and make sure you lock the door when you're working - so that your children don't turn up unexpectedly;)