Manama, Aug. 19 -- The Central Bank of Bahrain ("CBB") issued the final rules on "insurance aggregators."
"The introduction of insurance aggregator rules is a first step for the CBB towards "Insuretech", a technology led transformation of the insurance sector which is rapidly gathering momentum globally. The CBB is one of few central banks to have introduced rules relating to insurance aggregators to further enhance the position of Bahrain as a leading fintech hub in the MENA region," Abdul Rahman Al Baker, Executive Director of Financial Institutions Supervision, said.
Insurance aggregators are intermediaries with an insurance broker's license who operate an online platform, whether hosted on an Internet website or available as a smart d...