IAIS is holding a public background session on consultation on the draft application paper on the use of digital technology in inclusive insurance on March 02, 2018. IAIS has published a presentation for the event, which provides background information, describes the subject matter, and addresses specific relevant issues.
The application paper seeks to provide guidance to supervisors, regulators, and policymakers when considering, designing, and implementing regulations and supervisory practices on the use of digital technology in inclusive insurance. It also outlines the use and implications of digital technology within inclusive insurance markets and builds the context within which the Insurance Core Principles (ICPs) should be proportionately applied. The paper provides application guidance on the relevant ICPs in context of the use of digital technology in inclusive insurance. The consultation started on February 15, 2018 and will close on March 16, 2018. IAIS also made available a consultation tool, in addition to the usage instructions, for providing comments on the draft application paper. IAIS plans to complete consideration of comments, revision of draft, and final approval process for this by mid 2018.
Keywords: International, Insurance, Proportionality, Inclusive, Insurance, ICP, Insurtech, Fintech, IAIS
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