As an early stage or startup InsurTech, you’re highly focused on all the right things: identifying a challenge for the insurance industry, developing an innovative technical solution, making it practical and scalable, getting it funded, and implementing it. The industry for which InsurTech seeks to develop and deliver solutions is awash, however, in requirements and restrictions related to the collection, use, sharing, and protection of data.
Hong Kong
InsurTech Weekly Roundup – May 10, 2019
While you were off changing the industry, you may have missed these important developments…
What Every InsurTech Should Know About Accountants
You have now raised capital initially using a Convertible Promissory Note and soon, your Series A Preferred Stock; you now have a Board of Directors with three members – and there may be five including one or more Independent Directors; you are further expanding your management team – and have established an Option Plan under which you can issue both ISOs and NQSO.…
Hong Kong Signed its First Tax Information Exchange Agreement (TIEA) With US
On 25 March 2014, the Government of the Hong Kong Special Administrative Region (Hong Kong) signed an agreement with the Government of the United States of America (US) relating to the exchange of information relating to taxes. This is the first TIEA signed by Hong Kong. …
Insurance Sector to Play an Important Role in the Shanghai Free Trade Zone
The Chinese government launched the Shanghai Free Trade Zone (FTZ) on 29 September 2013 and said that the insurance sector would play an important role in the FTZ. …
Sluggish Growth of Taiwanese Life Insurance Business and Competition in the Industry
Taiwan is the second largest market in the Asia-Pacific region after Japan in terms of insurance density. However, it was reported by Asia Insurance Review on 28 August 2013 that the combination of persisting low interest rates, sluggish business growth, weak underlying profitability and increasing competition have driven Taiwanese life insurers to invest more in high risk assets, such as real estate, securities with higher potential profit margin and overseas assets. …
China Insurance Regulatory Commission Provides Support to Insurers in the Shanghai Free Trade Zone
The China Insurance Regulatory Commission (CIRC) has issued a notice on its website on 29 September 2013. The notice sets out the eight areas in which the CIRC will provide support to the insurance sector in the newly launched Shanghai Free Trade Zone (FTZ). …
GlaxoSmithKline Bribery Scandal and Corruption in Chinese Hospitals
Peter Humphrey along with his American wife, Yu Yingzeng, has been held in connection with an alleged £320million bribery scandal at drugs giant GlaxoSmithKline (GSK). …
Introduction of New Rules for Online Insurers in China
The China Insurance Regulatory Commission (CIRC) has issued on its website a set of rules for online insurers (Online Rules) on 3 September 2013. …
Proposed Public Tender for the Coverage of Medical Liability Insurance Pool in Shanghai
In 2002, Shanghai implemented the medical liability insurance system. Since then, more than 400 hospitals in Shanghai have participated in the system and 13,463 claims have been filed and recorded in the first 10 years following implementation. Among these claims, some of them have been successfully resolved, while many of the claims have not been dealt with satisfactorily. …