Document background
The Insurance Service Level Agreement is a critical document used to establish and maintain formal service arrangements between insurance companies and their various service providers in Ireland. This agreement is essential when outsourcing key insurance operations, technology services, or administrative functions, ensuring that all services meet regulatory requirements and operational standards. The document addresses specific requirements under Irish insurance law, including compliance with the Central Bank of Ireland's guidelines, consumer protection regulations, and data protection requirements. It sets out detailed service levels, performance metrics, reporting requirements, and governance structures, while maintaining alignment with Irish regulatory framework and industry best practices. The agreement is particularly important in the context of increasing regulatory scrutiny and the need for clear accountability in insurance service delivery.
