With the rapid technological changes taking place, it becomes essential for insurance supervisors to keep pace. Insurtech, Suptech and Regtech are becoming vital to the expansion of the insurance market reaching all facets of the value chain.
Regulators are currently encouraging and welcoming firms to develop and apply new technologies into the financial ecosystem to enhance value for customers, increase efficiency, manage risks better, create new opportunities and improve people’s lives.
Regulatory Sandbox is a useful regulatory framework which can be employed to create experimental environment where Insurtech can test new ideas and innovations in product design, product development and distribution with a leverage to contain the consequences of failure. We have worked with various regulators across the Africa.
Here are some of the resources, separated by country:
- Ethiopia
- Ghana
- Kenya
- Malawi
- Nigeria
- Rwanda
- Uganda
- Zimbabwe
BimaLab has had the pleasure of working with a variety of regional regulatory authorities to the program. Among those who have participated in the BimaLab initiatives include:
Upper Hill, Nairobi
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