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The First InsurTech Taskforce Meeting Held at IRC

The first joint taskforce meeting primarily aimed at efficient utilization of InsurTechs in Iran’s insurance industry was held on December 18, 2018 at IRC. Convened by Life Insurance Research Group, the meeting gathered many across the industry including the Head of IRC, Research Deputy, members of research groups, reps from Bimeh Markazi (Insurance Supervisory and Regulatory Authority of I.R. Iran), Ministry of Information and Communications Technology, Iran Insurers’ Syndicate, academicians, and startups.

The meeting was set up with an introductory note by Dr. Niakan, Research Deputy of IRC. Her speech was followed by Dr. Amir Safari, Head of IRC, who emphasized on the principal purpose of founding the taskforce i.e. ‘regulating and coordinating InsurTechs’ and stated: “We came to this very conclusion at the end of 25th NICOID that InsurTech services are essentially required to be regulated.”

“IRC believes that startups are able to play a major role in the whole value chain, hence making one to appreciate them more than just ‘online marketers’. So, based on the new roles startups can play in the insurance industry, we are after introducing appropriate regulations for their presence.” He added.

Later in the meeting, a briefing was provided pertaining to the research projects IRC is currently involved in on the field of information technology.

The other subjects that were raised in the meeting included introducing complementary services beside insurance sales, carrying out research projects as the raw materials for the startups, disclosure, enculturation, and setting up long-term and comprehensive programs due to the intricacy of the implementations.

Also, classification of the InsurTechs, introduction of relevant policies and strategic program by Bimeh Markazi for granting activity license to InsurTechs, and formulating necessary pertinent rules and regulations were other main points addressed by the participants in the meeting.

It must be noted that this taskforce was based on the implementation of the directive issued by the General Assembly of Bimeh Markazi on “the study of the effects of execution of insurance industry transformation plan including digitalizing of insurance policy issuance especially by the agents and adopting necessary pertinent guidelines”. The reports of the taskforce meetings will be given to the High Insurance Council.



Time: 2018-12-22
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News Code : 2190
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