1. Gathering input for the fourth EIOPA Consumer Trends Report OPSG Meeting Frankfurt, 10 March 2015

2. Background EIOPA’s role: “to collect, analyse and report on consumer trends” Working Definition of “Consumer Trend”: - “Evolutions in consumer behaviour in the insurance and pensions markets - Related to the relationship between consumers and undertakings (including intermediaries) - That are significant in their impact or novelty” 10 March 20152

3. Objective The objective is to: oMonitor evolution (trends) in consumer behaviour in the insurance/pensions sectors oIdentify any consumer protection issues that could arise from such trends and oIdentify and highlight positive trends 10 March 20153

4. Trends in last Report Examples of trends in the insurance market identified in the last report are: Conduct-related trends Product-specific trends Market-related trends Regulatory and supervisory developments 10 March 20154

5. OPSG input for the Fourth Report EIOPA will like to know the view of the OPSG on: oTop 3 financial innovations in the pensions sector in 2014 oTop 3 consumer protection issues in the pensions sector in 2014 In addition, we would also like your input on the following: o Specific financial literacy/capability initiatives to improve financial literacy of consumers o Advantages/disadvantages of shift from DB to DC pension plans and products o Awareness of consumers of volume of costs and charges of pensions and their impact on accrued benefits/calculated contributions o Challenges faced by “pension tracking systems” 10 March 20155

6. Questions? Julian Arevalo Julian.arevalo@eiopa.europa.eu phone: +49-69-951119711