Paperless life insurance policies in Taiwan in two years: report

Life insurance policies in Taiwan will eventually become paperless, the country’s Central News Agency has reported.

Half of life insurers in the country have yet to embrace digital policies, according to Insurance Bureau director-general Shih Chiung-Hwa, but they are expected to have digital policies as well as electronic passbooks in the next two years.

In a Legislative Yuan session, legislator Michelle Lin pointed out that more than 40% of insurers have yet to adopt digital policies, including four property insurers and 11 life insurers.

Shih responded that the four property insurers are primarily catering to corporate customers and it is still being reviewed if they will be included in the digitisation plan.