FSC eases identity control rules for online insuranceBy Kao Shih-ching / Staff reporterThe Financial Supervisory Commission (FSC) has eased the rules on consumer identity authentication for the online insurance business, enabling insurers to cooperate with non-insurance firms to speed up authentication. Under the previous rules, customers of non-insurance companies needed to pass the firms’ identity authentication protocols when logging on to their platforms or apps, and then had to pass insurers’ identity authentication protoclos to buy products, Shih said. The relaxed rules require people to pass only one identification control, which would save time and could boost their willingness to buy insurance policies, Shih added. Nan Shan Life Insurance Co (南山人壽) plans to partner with Gogoro to launch new usage-based insurance products, while other insurers would work with Chunghwa Post and H2 to market fire and earthquake insurance products, and health insurance for people with diabetes respectively, she added. If insurance firms want to cooperate with non-insurance firms on consumer identity authentication, they need to apply to the commission, as the authentication mechanism must be reliable, she added.

Source: Taipei Times July 08, 2020 15:56 UTC