The Central Bank of Bahrain issued final rules on insurance aggregators on August 14, calling it “a first step” for the country towards InsurTech.
The regulations target intermediaries with an insurance broker’s license that operate on an online platform or app and that provide price comparisons of insurance policies, and facilitate the purchase of insurance policies on behalf of insurance companies.
The CBB issued the draft regulations for insurance aggregators in April.
In June, UAE-based Souqalmal.com was the first company to get an e-broker license in Bahrain.
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