Insurance Authority Insurtech Sandbox (“Sandbox”)

Objective: Facilitate a pilot run of innovative Insurtech applications by authorized insurers to be applied in their business operations

Details: The IA observes that authorized insurers and licensed insurance broker companies may have initiatives in applying innovative technologies in their business operations but may be uncertain if those initiatives can meet the supervisory requirements of the IA. With a view to promoting technology development for the insurance industry in Hong Kong, the IA considers it necessary to adopt some flexibility in the supervisory requirements.

The IA would consider an Insurtech initiative to be a pilot run under the Sandbox to collect sufficient data to demonstrate to the IA that such Insurtech application can broadly meet relevant supervisory requirements arising from its codes and guidelines and other regulatory practices.

Eligibility: The Sandbox is available to Insurtech and other technology initiatives intended to be launched in Hong Kong by authorized insurers and licensed insurance broker companies. The IA will work with the authorized insurers and licensed insurance broker companies and technology companies cooperating with them.

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