The social and political climate towards InsurTech-services is positive.
The insurance activities are regulated by the Law of 7 December 2015 on the insurance sector (hereinafter referred to as 2015 Law) and are subject to the supervision of the Commissariat aux Assurances.
The InsurTech-services may be considered as insurance intermediary. Therefore, according to article 281 of 2015 Law, Luxembourg intermediaries, with the exception of their administrative staff, must be approved by the Minister and registered in the register referred of intermediaries provided for in Article 286.
No information publicly available.
InsurTech is reshaping Insurance. Most of the local insurance companies believe that some part of their business is at risk of disruption. The most significant gain from InsurTech is cost reduction. We do see a move towards cloud-based platforms.