Global FinTech Guide
Country Name
InsurTech is composed of the words “insurance” and “technology”. It is used as a collective term for the application of modern technologies in the domain of insurance services.

Digital and mobile brokers: FinTechs belonging to this category mostly act as digital insurance brokers and provide users with an overview of their insurance contracts with their respective conditions. Some FinTechs offer very short-term insurance contracts to cover specific cases which can be concluded often spontaneously via mobile devices. Oftentimes additional consulting services are offered.

Internet of things: FinTechs belonging to this category collect data by measuring for example the driving style of the customers or through wearables the customers wear to consult on, offer and/or manage the customer’s insurances.


Attitude of the country towards InsurTech-services

The climate towards InsurTech is neutral to positive in connection with the overall trend towards digitalisation. 

Legal affairs

Obligations and requirements to provide InsurTech-services

Swiss based insurance companies that conduct the direct insurance or reinsurance business or insurance companies domiciled abroad require a FINMA license for insurance activities in Switzerland or from Switzerland. 

Anyone who concludes insurance contracts or offers to conclude such contracts and who is not a licensed insurance company qualifies as insurance intermediary within the meaning of the Insurance Oversight Act (“IOA”). Independent insurance intermediaries are required to register with FINMA. Such registration requires that the respective insurance intermediary has a current professional liability insurance in excess of CHF 2.0 Mio. or has equivalent collateral. 

Traditional independent insurance broker and online insurance broker are equally regulated. 

Additional comments regarding the legal situation for InsurTech-services or what InsurTech’s must be aware of in this business area


Economic conditions

Market size for InsurTech-services and biggest companies in this business area

No reliable data available.

Additional comments regarding the economic situation for InsurTech-services or what InsurTech’s must be aware of in this business area

 No reliable data available.



© 2022, Bratschi Ltd. All rights reserved by Bratschi Ltd as author and the owner of the copyright in this chapter. Bratschi Ltd has granted to Multilaw non-exclusive worldwide license to use and include this chapter in this guide and to sublicense Lexis Nexis, a division of RELX Inc. and its affiliates certain rights to use and distribute this guide.

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.


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