The Promise and Perils of Insurtech

28 Pages Posted: 21 Jul 2020

See all articles by Lin Lin

Lin Lin

National University of Singapore (NUS) - Faculty of Law

Christopher C. Chen

National Taiwan University - College of Law

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Date Written: Mar 2020


The insurance sector, in riding the wave of the FinTech phenomenon, has been rapidly expanding,with a slew of firms having emerged to provide so-called “InsurTech” services. These services incorporate concepts such as blockchain, artificial intelligence, digitalisation and the sharing economy to various aspects of the insurance industry. This profusion of technology brings with it the promise of various benefits including increasing efficiency and lowering costs for not only insurers and intermediaries, but also businesses or consumers as end-users of insurance. However, the development of InsurTech comes with corresponding risks and regulatory concerns not currently accounted for by the traditional regulatory model. This paper will examine potential risks associated with the application of InsurTech and scope out how current regulations might hinder (rather than facilitate) the development of InsurTech. This paper then concludes with a discussion of various possible responses or regulatory approaches to InsurTech applications.

Suggested Citation

Lin, Lin and Chen, Christopher Chao-hung, The Promise and Perils of Insurtech (Mar 2020). Singapore Journal of Legal Studies, Mar. 2020, pp 115-142, Available at SSRN:

Lin Lin (Contact Author)

National University of Singapore (NUS) - Faculty of Law ( email )

469G Bukit Timah Road
Eu Tong Sen Building
Singapore, 259776

Christopher Chao-hung Chen

National Taiwan University - College of Law ( email )

No.1, Sec.4, Roosevelt Road
Taipei, 10617, 10617

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