Canada    FinTech Guide    Chapter 13    Hungary

13. InsurTech
Hungary  Hungary

The social and political climate towards RegTech-services is neutral. We are not aware of reservations.

Legal Affairs

According to the Insurance Act, insurance brokers must be either registered or licensed by MNB depending on the type of broker.

“Internet of things” services may be provided without an MNB license.

Economic Conditions

There are only a few InsurTech companies on the Hungarian market at the moment. Sparklab started a year ago, with the support of Dutch InsurTech company, NN Group. Functional Finances is involved in risk management.

Contributing Authors

Lakatos, Köves & Partners

Richard Lock
Budapest, Hungary

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Chapter Index:

1. Payment Services / Mobile Payment

2. Asset and Portfolio Management

3. Consulting and Broking Services / Robo-advisory / Auto-trading

4. Trading Platforms / Social Trading Platforms / Signal Following

5. Crowdfunding / Crowdinvesting / Crowdlending

6. Virtual Currency - Bitcoin

7. Loan Services / Factoring / Loan Broking / Finetrading

8. Online Banking Services

9. Analytics and Research / Data Management / Risk Management

10. Accounting

11. Identification

12. Online-pawning

13. InsurTech

14. RegTech

15. Initial Coin Offerings (ICOs)

The information in this guide provides a general overview at the time of publication and is not intended to be a comprehensive review of all legal developments nor should it be taken as opinion or legal advice on the matters covered. It is for general information purposes only and readers should take legal advice from a Multilaw member firm.

Publication Date: 1 May 2018