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Thailand: Regulator to set up platform to develop InsurTech

Source: Asia Insurance Review | Jun 2018

Thailand InsurTech Regulation People Technology

The Office of Insurance Commission (OIC) will set up and administer the Insurtech Centre of Thailand (ICT) soon for data collection, technology exchange and insurance product development. 
   The ICT will also be a hub to integrate insurance firms and tech start-ups to drive the domestic insurance industry forward, OIC secretary-general Dr Suthiphon Thaveechaiyagarn said at a seminar. 
   The ICT will have four goals, namely: 
  1. encourage research and exchange of knowledge on insurance technology and promoting the development of insurance technology; 
  2. promote the development of regulatory technology for the insurance industry; 
  3. support accessibility and reachability of insurance knowledge among the public via InsurTech; and 
  4. brainstorm ideas among the regulator and InsurTech startups to facilitate innovation and protect consumer interests. A 
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