Insurance Europe is a trade association that represents the insurance industry in Europe. It has 30 member countries and is based in Brussels.
Insurance Europe has a strong focus on policy and regulation.
The association works closely with European policymakers to ensure that the interests of the insurance industry are represented. This includes providing input on new laws and regulations that may affect the industry.
Insurance Europe has a diverse membership, including both life and non-life insurers.
History of Insurance Europe
Insurance Europe has a rich history that spans over 60 years. It was founded in 1953 as Comité Européen des Assurances (CEA), with 18 members at the time.
The organization's initial aim was to observe the works of the OECD in Paris. This marked the beginning of its involvement in European affairs.
In the following years, CEA shifted its focus to the European arena, adapting to the changing power structures resulting from the foundation of the European Community and its evolution into the European Union.
In March 2012, CEA officially changed its name to Insurance Europe, signaling a new chapter in its history.
Curious to learn more? Check out: History of Insurance
Insurance Europe Overview
Insurance Europe's mission is to draw attention to issues of strategic interest to all European insurers and reinsurers in a sustainable manner.
Their mission also involves raising awareness of insurers' and reinsurers' roles in providing insurance protection and security to the community as well as contributing to economic growth and development.
Insurance Europe aims to promote a competitive and open market to the benefit of both European consumers and corporate clients.
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Mission Statement
Insurance Europe's mission is to promote a competitive and open market to the benefit of European consumers and corporate clients.
Their mission statement highlights three key areas of focus: drawing attention to strategic issues, raising awareness of the insurance industry's role in providing protection and security, and promoting a competitive market.
To achieve this, Insurance Europe aims to provide insurance protection and security to the community, contributing to economic growth and development.
Here are the three main objectives of Insurance Europe's mission statement:
- Draw attention to issues of strategic interest to all European insurers and reinsurers in a sustainable manner.
- Raise awareness of insurers' and reinsurers' roles in providing insurance protection and security to the community as well as in contributing to economic growth and development.
- Promote a competitive and open market to the benefit of the European consumer as well as corporate clients.
Insurance Europe's mission is centered around creating a sustainable and beneficial environment for the insurance industry and its customers.
Coverage Duration
Europe travel insurance covers you for up to 180 days, which is equivalent to around 6 months.
This duration is sufficient for most European trips, but it's essential to check your policy details to ensure you're aware of your coverage limits.
You can travel extensively throughout Europe, visiting multiple countries and experiencing different cultures, without worrying about your insurance coverage expiring.
Curious to learn more? Check out: Medical Travel Insurance Coverage
Europe Travel
Europe Travel insurance is a must-have for anyone planning to visit multiple European countries. AXA's Europe Travel insurance offers extensive protection, covering medical expenses up to €100,000 in 28 European countries.
If you're unsure of your European itinerary, AXA Europe Travel is a great option, covering you for up to 180 days. This insurance also meets the requirements for a Schengen visa application.
To obtain the travel insurance certificate required with your Schengen Visa application, you need to subscribe to AXA Europe Travel insurance online. The certificate will be sent to you by email.
For another approach, see: Health Insurance for European Travel
Here are the key benefits of AXA Europe Travel insurance:
- Guarantees a coverage of up to € 100,000 (about US$ 111,000)
- Covers travellers for up to 180 days
- Bears the expenses linked to emergency medical care, hospitalisation, sanitary repatriation or death
- Offers the refund of your subscribed travel insurance if your Schengen visa application is denied (under certain conditions)
Future Developments
Insurance Europe is working towards a future where technology and innovation play a bigger role in the industry. This is evident in their efforts to develop a digital insurance platform, which aims to make insurance more accessible and convenient for consumers.
The platform will allow consumers to purchase insurance policies online and manage their policies digitally, making it easier for them to find and compare different insurance products. This is a significant step towards increasing transparency and competition in the market.
Insurance Europe is also focusing on the use of data and analytics to improve risk assessment and prevention. By leveraging data and analytics, insurers can better understand their customers' needs and develop more targeted and effective risk management strategies.
This shift towards data-driven decision making is expected to lead to more accurate and efficient risk assessments, which in turn will help to reduce the number of claims and lower premiums for consumers.
For your interest: In Insurance Policies the Insured Is Not Legally
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