Qatar Central Bank issues Digital Insurer regulations

Doha:Qatar Central Bank has issued Digital Insurer regulations defining the regulatory framework for Digital Insurer activities in the country. T...

Doha: Qatar Central Bank has issued "Digital Insurer" regulations defining the regulatory framework for Digital Insurer activities in the country.

The regulations are in line with the Third Financial Sector Strategy, the Fintech Strategy, and Qatar Central Bank's ongoing endeavor to regulate and develop the financial sector, in accordance with the Qatar Central Bank Law and the Regulation of Financial Institutions No. (13) of 2012 and in order to stimulate innovation in the Fintech field,

Digital Insurers leverage technology to provide the best insurance services while enhancing customer experiences through effective services and smart digital solutions to enable the insurance sector to become a leader in the region.

This sector is characterized by the variety of its insurance products and services that help meet internal needs and support the expansion of the sector in domestic and external markets to achieve growth and increase profitability through insurance technology solutions and products based on insurance laws and regulations that meet the latest international standards.

Digital Insurers offer many benefits including cost efficiency, faster claims processing, improved risk assessment, and enhanced competitiveness in the sector, in order to deliver the best services at a lower cost.