Qatar - The Qatar Central Bank has officially started receiving applications for “insurance policy price comparison sites”, which the QCB said will be accepted until December 2.
The QCB on Sunday said it aims to regulate insurance policy price comparison sites service providers in the country, in order to establish a suitable regulatory framework for emerging fintech companies and develop smart solutions for this service, which has witnessed remarkable growth in recent years.
“The insurance policy price comparison sites will provide customers with complete flexibility when choosing an insurance policy to make the best decisions before purchasing insurance products, by comparing these products in terms of features and prices, in the fastest way possible, which saves time and effort in searching for suitable options.
“Insurance policy price comparison sites also contribute to enhancing the principle of transparency by giving customers access to unbiased information that enables them to choose insurance products that suit their needs.
“Qatar Central Bank is keen to provide effective and valuable initiatives that help create a favourable environment for Fintech companies to shape the future of the financial technology in the State of Qatar,” according to a statement.
All companies wishing to provide this service may submit their applications to obtain a license via the following electronic link: sandbox.qcb.gov.qa
© Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. (Syndigate.info).