【市场报告】国际清算银行-从点击到索赔：大型科技公司进军保险的新兴趋势和风险（英）-2023.8_市.docx

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1、Financia1Stabi1ityInstituteFSIInsightsonpo1icyimp1ementationNo51Fromc1ickstoc1aims:emergingtrendsandrisksofbigtechs,forayintoinsuranceByDeniseGarciaOcampo,JatinTaneja,JefferyYongandJu1ieZhuAugust2023JE1c1assification:G18,G22fG28,141Keywords:bigtechs,insurance,innovation,competition,financia1stabi1it

2、yBANKFORINTERNATIONA1SETT1EMENTSFSIInsightsarewrittenbymembersoftheFinancia1Stabi1ityInstitute(FSI)oftheBankforInternationa1Sett1ements(BIS),ofteninco11aborationwithstafffromsupervisoryagenciesandcentra1banks.Thepapersaimtocontributetointernationa1discussionsonarangeofcontemporaryregu1atoryandsuperv

3、isorypo1icyissuesandimp1ementationcha11engesfacedbyfinancia1sectorauthorities.Theviewsexpressedinthemareso1e1ythoseoftheauthorsanddonotnecessari1yref1ectthoseoftheBISortheBase1-basedcommittees.AuthorisedbytheChairoftheFS1FernandoRestoy.Thispub1icationisavai1ab1eontheBISwebsite(www.bis.org).Tocontact

4、theBISMediaandPub1icRe1ationsteam,p1easeemai1iabis.org.Youcansignupforemai1a1ertsatwww.bis.org/emai1a1erts.htm.BankforInternationa1Sett1ements2023.A11rightsreserved.Briefexcerptsmaybereproducedortrans1atedprovidedthesourceisstated.ISSN2522-249X(on1ine)ISBN978-92-9259-681-1(on1ine)ContentsExecutivesu

5、mmary1Section 1 -Introduction3Section 2 -Bigtechs,activitiesininsurance4Bigtechsasinsurers6Bigtechsasinsuranceintermediaries13Bigtechsasserviceproviders18Regiona11ydifferentmoda1ities21Section 3 -Prudentia1andconductregu1atoryandsupervisoryapproaches24Insuranceunderwriting25Digita1distributionofinsu

6、ranceproducts26Requirementsre1atedtoserviceproviders29Otherrequirements30Section 4 -Conc1udingremarks31References32Annex 1: Backgroundofsamp1ebigtechs36Annex 2: Pre1iminaryassessmentoftheapp1icabi1ityofre1evantInsuranceCorePrincip1es(ICPs)38Annex 3: Keye1ementsofse1ectedinsuranceregu1atoryguidanceon

7、internet/digita1insurance40Fromc1ickstoc1aims:emergingtrendsandrisksofbigtechsforayintoinsurance1ExecutivesummaryTheinsuranceva1uechainoffersbigtechsmanyopportunitiestoenterintotheinsurancemarket.Theva1uechainspansproductdesign,pricing,underwriting,marketing,sa1esanddistribution,c1aimsmanagementandp

8、ost-sa1epo1icyservicing.Bigtechscan1everagetheirtechno1ogica1advantages,forexamp1eindataana1yticsorartificia1inte11igence,andtheiraccessto1argedatasetstoofferservicesinanypartoftheinsuranceva1uechain,eitheras1icensedinsuranceentities,inpartnershipwithincumbentinsurersorasserviceproviders.Whi1ethisde

9、ve1opmentcanbringbenefitstoinsurersintermsofoperationa1efficiencyorexpandedmarketreach,andtoconsumersthroughimprovedcustomerexperienceandconvenience,itcana1sogiverisetonewriskssuchasexcessivemarketpowerorconcentrationinahandfu1ofbigtechs.Thispaperprovidesanoverviewofbigtechfirms,invo1vementintheinsu

10、rancebusinessandtheapp1icab1eregu1atoryframeworksforthedifferentactivitiestheyperform.Itexaminesbigtechs,invo1vementintheinsurancesectorasriskcarriers,intermediariesorserviceproviders.Itisbasedprimari1yonpub1ic1yavai1ab1einformationfrom18bigtechsin14jurisdictionsandre1atedregu1atoryissuancesinthosej

11、urisdictions.Interviewswithse1ectedinsuranceregu1atoryauthoritieswerehe1dtosupp1ementthepub1ic1yavai1ab1einformation.Bigtechentitiesthatactasinsuranceriskcarriersorunderwritersare1icensedasinsurers,andarethereforesubjecttothesameprudentia1andconductru1esasincumbentinsurers.Weidentifiedfivebigtechsth

12、atownandcontro11icensedinsurancecompanies,primari1yoperatinginthenon-1ifeandhea1thinsurancesectors.A1thoughtheseinsurersarere1ative1ysma11,bothintermsofthebigtechs,overa11businessesand1oca1insurancemarkets,theyseemtobeactive1yexp1oringgrowthopportunities.Apartfromoutrightownershipof1icensedinsurers,

13、somebigtechshaveobtainedsupervisoryapprova1stoho1dsubstantia1interestsin1icensedinsurers.Bigtechsappearto1everagetheirinsurancesubsidiariesorshareho1dingsinat1eastthreeways-seizingear1yopportunitiesto1eaddigita1insurancein1oca1markets,nurturinginsuranceentitiestobenefittheirownecosystemsandexperimen

14、tingwithinsuranceinnovation.Bigtechentitiesthatactasinsuranceintermediariesaretypica11yregisteredor1icensedassuchandthere1evantconductru1esapp1y.Inoursamp1e,a11buttwobigtechshaveanintermediaryregistrationor1icencetose11insuranceproducts,1everagingtheircoredigita1servicep1atforms.Theintegrationofinsu

15、ranceproductsorservicesintothecustomerjourneyofbigtechs,businessesorp1atformsisaformofembeddedinsurance.Embeddedinsuranceofferedbybigtechsgenera11yinvo1vesproductsthatarec1ose1y1inkedtotheirnon-insuranceproductsorservices.Thereisanothersetupthatcanbecharacterisedasaninsurancemarketp1ace.Thisarrangem

16、entinvo1vesbigtechspartneringwithanumberofinsurerstooffer,throughtheirone-stopon1ineinsuranceshoppingp1atform,awiderangeofinsuranceproductsthatarenotdirect1y1inkedtotheirotherdigita1services.DeniseGarciaOcampo(Denise.GardaOcampobis.org),JatinTaneja(jatintaneja),JefferyYong(Jeffery.Yongbis.org),BankforInternationa1Sett1ementsandJu1ieZhu(Ju1ieZhuia.org.hk),InsuranceAuthorityofH