· Document Types · 3 min read
What is an IPID Document?
Learn what an Insurance Product Information Document (IPID) must include, how UK FCA rules apply after Brexit, and how to generate compliant IPIDs.
An IPID (Insurance Product Information Document) is a standardised, customer-facing summary of an insurance product. It explains what a policy covers, what it excludes, what it costs, and how to make a claim, in plain language, before the customer buys.
Insurers use IPIDs to meet regulatory obligations and give consumers enough information to compare products and make informed decisions. This guide covers what an IPID is, where the rules come from, what must appear in the document, and how it differs from full policy wording.
UK regulation after Brexit
Since the UK left the European Union, insurers no longer follow the EU Insurance Distribution Directive (IDD) for IPIDs. From 5 April 2024, the Financial Conduct Authority (FCA) sets the requirements instead, under ICOBS 6 Annex 3.
The FCA rules cover not only content but presentation: font sizes, iconography, bullet placement, and layout. UK firms must follow this specification rather than the EIOPA template used in the EU.
The original IDD framework is still relevant for EU operations. EIOPA publishes the full Insurance Product Information Document guidelines for firms distributing products in member states.
Why IPIDs matter
Regulators introduced IPIDs to improve transparency in insurance sales. For most non-life products sold to retail customers, firms must provide an IPID at the point of sale.
IPIDs help because they:
- Simplify complex policies: Coverage, exclusions, and key terms appear in accessible language rather than dense legal wording.
- Enable product comparison: A consistent format lets consumers compare policies from different insurers on the same basis.
- Support informed decisions: Customers see premiums, exclusions, and claims processes before committing.
- Protect consumers: Standardised disclosure reduces the risk of hidden fees, unexpected exclusions, or unclear contract terms.
- Demonstrate compliance: Producing a correct IPID is a core part of meeting FCA and (where applicable) IDD obligations.
What must appear in an IPID
An IPID is a snapshot of the product, not a full policy schedule. Typical required sections include:
| Section | What it covers |
|---|---|
| Product name | The insurance product the customer is considering |
| Insurer details | Who provides the policy and how to contact them |
| What is insured | Core benefits and coverage in plain language |
| What is not insured | Key exclusions and limitations |
| Premium and costs | Price, payment frequency, and other charges |
| Policy duration | How long cover lasts and renewal terms |
| Claims | How to make a claim and what to expect |
| Cancellation | Cooling-off period and cancellation rights |
| Other obligations | Customer duties that could affect cover |
Exact requirements depend on product type and jurisdiction. UK firms should follow ICOBS 6 Annex 3; EU firms should follow the IDD and EIOPA guidance.
IPID vs full policy documentation
An IPID is an introductory summary, not a substitute for the full policy wording. The complete contract contains detailed terms, conditions, definitions, and exclusions that the IPID only summarises.
Customers should use the IPID to compare products and decide whether to proceed. They should read the full policy documentation before relying on cover for a specific scenario.
How Ultradoc helps insurers generate IPIDs
Ultradoc’s IPID template is built for regulated document production, not generic word processors. The template follows FCA layout requirements, so teams focus on accurate content rather than formatting.
Ultradoc can:
Generate IPID content from policy wordings using AI-assisted drafting
Apply consistent, compliant formatting across products and brands
Produce accessible output compatible with screen readers, without maintaining separate versions
Track versions, approvals, and review cycles in one workflow
Ready to generate compliant IPIDs?
See how Ultradoc turns policy wording into FCA-compliant IPIDs, with accessibility and brand consistency built in.
