Regulatory Sandboxes in Insurance
The expansion of regulatory sandboxes in all geographies confirms the value of security and protection for the new Open Insurance era.
Almost 60 Regulatory Sanboxes in 8 years confirm the consolidation of these test spaces in the Insurance industry
Since the launch of the first Sandbox in 2015, the one in the United Kingdom, almost 60 have been created in just six years in different geographies and Insurance has been gaining a presence in them.
Although the first case was European, however, if we analyze the proliferation of this type of institutions, we can see that European sandboxes only represent 25.7% (15 sandboxes) of the total (59). And what is more characteristic is that there are territories such as Africa where the figure reaches 20.2% (12) and others where it widely exceeds it: this is the case of Asia, which concentrates 42.3% of sandboxes, with a total of 25 organisms of this type. The other side of the coin is America, which only has 7 to date, representing 11.8% of the total.