Sponsors of internet-only insurers can include financial institutions and fintech companies. Applications are expected to open in August 2022. Taiwan’s FSC (Financial Supervisory Commission) has proposed a draft regulatory framework for internet-only life and property insurers. The move comes after the authorisation of three internet-only banks in July 2019, based on a digital banking framework introduced in 2018. The digital transformation of the insurance industry has promoted the research and development of innovative insurance products, and improved the speed, convenience, independence and service experience, while also strengthening insurance protection for consumers and enhancing competitiveness, the FSC said. However, the current…