The InsurTechs in Brazil: a legal and regulatory analysis

Abstract

The insurance industry is facing an unprecedented wave of disruption. While all stakeholders welcome the new insurance products and the improved consumer experience resulting from technological advances, jurists face a number of challenges. In particular, it could be asked: is the current Brazilian legal system able to regulate InsurTechs adequately? The following paper will analyze the legal and regulatory aspects of the operation of companies characterized as “InsurTechs” and how they are functioning in Brazil. To this aim, the following will be addressed: (i) the concept of InsurTech; (ii) the Brazilian regulatory authority’s Regulatory Sandbox approach and; (iii) The functioning of InsurTechs in Brazil.