Futurity-led platform capitalism: the regulation of inclusive insurtech platforms

Abstract

This article investigates international and national regulation of the recent foray by inclusive insurance firms into platform capitalism. It contributes to current debates on the governance of Fintech/insurtech in digital financial inclusion and platform capitalism. Drawing on Global Political Economy scholarship and John Commons’ concept of futurity, I argue that futurity drives the inclusive insurance market mediated by insurtech platforms. This process is performed within the regulatory sandbox, a dedicated legal framework allowing private firms to test innovative products and business models in a small-scale and controlled environment. The article draws on the analysis of legal documents, semi-structured interviews with key international and national insurance supervisors as well as participant observation in online conferences. The analysis offers empirical insights into the complexities of regulatory institutions to deepen our understanding of the global expansion of platform capitalism in inclusive insurance.