The Role of InsurTech in Transforming Insurance Law: A Global Perspective on Legal Implications

Abstract

Background: InsurTech innovations are rapidly transforming the insurance industry, creating challenges and opportunities for legal compliance and consumer protection.

Objective: This study explores the legal implications of InsurTech adoption in Germany and India, focusing on regulatory challenges and policyholder rights.

Methodology: A mixed-methods approach was used, combining legal analysis with case studies from major InsurTech firms in both countries.

Findings: Germany’s robust data protection laws ensure consumer security but hinder rapid innovation. India faces challenges in regulating startups, risking consumer exploitation. Collaborative regulatory models are proposed.