Redesigning the Post-Experimentation Phase of Taiwan’s Financial Regulatory Sandbox Regime – Focused on the Tiered Licensing of Insurance Industry by Risk Type

• Main Authors: Hsu, Yun-Wei, 許芸瑋
• Other Authors: 彭金隆
• Format: Others
• Language: zh-TW
• Published: 2018
• Online Access: http://ndltd.ncl.edu.tw/handle/t9h583

碩士 === 國立政治大學 === 風險管理與保險學系 === 106 === The rise of insurtech has brought convenience and business opportunities for the insurance market while forcing a conversion of existing risks to new ones. To respond to the rapid changes of insurtech development, governments have adopted the financial regulatory sandbox method as a supervising measure. Towards the end of 2017, Taiwan has passed its “Financial Technology Development and Innovative Experimentation Act”, which was implemented in 2018. In observation of the financial regulatory sandbox of different countries, most of them are centered on the application, review and experiment processes, with little emphasis on the relevant regulatory effects and supplementary measures regarding “the Post-Experimentation Phase”. The goal of innovation experiments is to authenticate the feasibility of innovation structures through experiments and delve deeper into the market. If the construction of such systems would be meaningless if it is unable to allow innovative products, services and business models of experiment enterprises to be thrust into the market. Thus, this study revolves around the implementation methods of Taiwan’s financial regulatory sandbox methods and analyzes the conversion of risks that insurtech has on traditional insurance industries from a risk-based perspective. The capital management of foreign insurance enterprises in establishing Taiwan branches are taken into account in proving a difference exists in certification measures for Taiwan’s insurance industry. Illustrations are made using the tiered licensing of Taiwan’s electronic payment industry, Singapore’s insurance industry and Hong Kong’s banking industry. The business scope and involved risks can be used as assessment standards for differential certification. Lastly, the risk categorization of the Risk-Based Capital is used as reference in deriving the feasibility of differential certification methods for Taiwan’s insurance industry.