New IVASS regulation issued

In order to implement national and European legislation on consumer protection, on 30 August 2022, IVASS issued Regulation No. 53, laying down provisions for the use of external mystery shoppers.

Mystery shopping is defined as the activities directed towards the purchase (or the performance of acts preparatory to the purchase) of insurance products and insurance services addressed to consumers, also through online/telematic channels (so-called mystery surfing), conducted incognito by IVASS or entrusted by the Supervisory Authority to an external agent, towards insurance companies and intermediaries.

The Rules regulate the requirements (professionalism, experience and independence), tasks and remuneration (according to market criteria to ensure quality and reliability) of the external appointee.

The Regulation enters into force on the day following its publication in the Official Journal.