The Legal Framework of InsurTech Compliance in Georgia
Digital channels have changed how insurance is distributed, but the legal perimeter of the insurance market remains the same: intermediation is carried out by insurance agents and insurance brokers, supervision belongs to the State Supervisory Service, and insurance activity begins only with a licence. Under Article 12 of the Law of Georgia on Insurance, intermediary activity in the insurance sphere is carried out by insurance agents and insurance brokers; an insurer may carry on insurance activity both directly and through agents and brokers, but is obliged to carry it out only through a duly registered insurance broker. It follows that an insurtech platform operating as a distribution channel cannot escape the intermediation framework — the only question is under which status and against which requirements it operates. The same article draws the boundary of what is not intermediation: the supply of additional information to a consumer within the frame of another professional activity, where its purpose is not to assist in concluding or performing an insurance contract, does not count. That boundary matters for platforms performing a purely informational function without participating in distribution.