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Insurance

CBB issues draft rules on insurance aggregators

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Insurance aggregators operate an online platform which provides price comparisons and facilitates the purchase of insurance policies from several insurance licensees.

Monday 29, April 2019 BY KUDAKWASHE MUZORIWA

The Central Bank of Bahrain (CBB) has issued the draft rules on insurance aggregators, according to local newswire, Bahrain News Agency.

The introduction of insurance aggregators will allow customers to find and choose insurance quotes from several insurance companies under a single electronic platform, instead of obtaining quotes individually and purchase insurance online from a single insurance company. 

Abdulrahman Al-Baker, the Executive Director of Financial Institutions Supervision, said, “The introduction of insurance aggregator rules is a first step for the CBB towards insuretech, a technology-led transformation of the insurance sector which is rapidly gathering momentum globally.”

 

TAGS : CBB, Insuretech, insurance aggregators

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