News Technology10 Jun 2022

Singapore:MAS disappointed in the lack of InsurTech participation

| 10 Jun 2022

A pool of a hundred InsurTechs are registered in the Singapore FinTech Association, yet the country's regulators are concerned about the insurance industry's low participation in sandboxes and grants available to innovate new products. "Despite providing an open sandbox to allow people to experiment with insurance for tech companies on the market, we still see a very low take-up on the insurance side," said MAS chief FinTech officer Sopnendu Mohanty speaking at InsureTech Connect Asia. He said the insurance industry still faces many challenges that could be addressed with more InsurTech development.

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