PRIIP Service for Insurance Companies

The regulation on key information documents for packaged investment products for retail investors and for insurance investment products (PRIIPs) is another EU-wide standard regarding product information for consumers. Its central component is the introduction of Key Information Documents (KIDs). Since 1 January 2018 issuers and distributors of PRIIP products have to implement the provisions.

For insurance companies, this means that they must explain the tariff information and the information on the possible investment options in a way that can be easily understood by the consumer and provide distributors with the Key Information Document (KID).

To fulfil these requirements, cleversoft provides insurance companies with a full service, from the acquisition of data to the creation of a completed PRIIP Key Information Document (KID). This service also includes continuous monitoring and updating of data and documents.

  • Service overview
  • Integration into the quotation software
Service overview
  • Procurement of target fund data directly from investment companies on behalf of the insurance company
    • Coordination, format and delivery
    • Continuous monitoring
  • Preparation of PRIIP KID documents and appendices
  • Automatic fund data delivery extension by PRIIP target fund data to the insurance company
Integration into the quotation software

Deliveries to financial advisers and brokers

After preparing the PRIIP KID document, it must still be delivered to the financial advisers and brokers. We therefore automatically integrate the documents into your online and offline quotation software.

  1. Delivery of the PDF files with the desired file name to the insurance company
  2. Inclusion of the documents in the offline quotation software
  3. Select the desired fund in the quotation software and automatically connect the PRIIP KID documents to the selected fund

cleversoft provides an updated document in accordance with the release cycles of the offline quotation software.

In addition to the delivery of the offline quotation software, we also offer continual (e.g. monthly or even daily) updates for the online quotation software.

1. Interface integration into the online quotation software

2. Select the desired fund in the quotation software and automatically connect the PRIIP KID documents to the selected fund

3. Documents continuously updated by cleversoft Our service also includes a landing page for the retrieval of PRIIP KID documents.