The Financial Supervisory Commission (FSC) has eased the rules on consumer identity authentication for the online insurance business, enabling insurers to cooperate with non-insurance firms to speed up authentication.
Non-insurance firms include Chunghwa Post Co (中華郵政), online platforms that sell airline tickets or travel programs, mobile devices retailers, electric scooter manufactures and diabetes care apps, the commission said.
To team up with non-insurance firms to market new products, insurers earlier this year asked the commission to relax the rules on consumer identity authentication, Insurance Bureau Director-General Shih Chiung-hwa (施瓊華) told the Taipei Times by telephone yesterday.
Under the previous rules, customers of non-insurance companies needed to pass the firms’ identity authentication protocols when logging on to their platforms or apps, and then had to pass insurers’ identity authentication protoclos to buy products, Shih said.
The relaxed rules require people to pass only one identification control, which would save time and could boost their willingness to buy insurance policies, Shih added.
Reviews have also found that the identification protocols used by non-insurance companies, such as Chunghwa Post, Gogoro Inc (睿能創意) and H2 Inc (慧康生活) are robust and workable, she said.
Nan Shan Life Insurance Co (南山人壽) plans to partner with Gogoro to launch new usage-based insurance products, while other insurers would work with Chunghwa Post and H2 to market fire and earthquake insurance products, and health insurance for people with diabetes respectively, she added.
The commission allows Gogoro, Chunghwa Post and H2 to market the insurance policies provided by their partners on their Web sites or apps after users pass identity authentication, Shih said.
If insurance firms want to cooperate with non-insurance firms on consumer identity authentication, they need to apply to the commission, as the authentication mechanism must be reliable, she added.
GREAT SUCCESS: Republican Senator Todd Young expressed surprise at Trump’s comments and said he expects the administration to keep the program running US lawmakers who helped secure billions of dollars in subsidies for domestic semiconductor manufacturing rejected US President Donald Trump’s call to revoke the 2022 CHIPS and Science Act, signaling that any repeal effort in the US Congress would fall short. US Senate Minority Leader Chuck Schumer, who negotiated the law, on Wednesday said that Trump’s demand would fail, while a top Republican proponent, US Senator Todd Young, expressed surprise at the president’s comments and said he expects the administration to keep the program running. The CHIPS Act is “essential for America leading the world in tech, leading the world in AI [artificial
DOMESTIC SUPPLY: The probe comes as Donald Trump has called for the repeal of the US$52.7 billion CHIPS and Science Act, which the US Congress passed in 2022 The Office of the US Trade Representative is to hold a hearing tomorrow into older Chinese-made “legacy” semiconductors that could heap more US tariffs on chips from China that power everyday goods from cars to washing machines to telecoms equipment. The probe, which began during former US president Joe Biden’s tenure in December last year, aims to protect US and other semiconductor producers from China’s massive state-driven buildup of domestic chip supply. A 50 percent US tariff on Chinese semiconductors began on Jan. 1. Legacy chips use older manufacturing processes introduced more than a decade ago and are often far simpler than
Hon Hai Precision Industry Co (鴻海精密) yesterday said that its research institute has launched its first advanced artificial intelligence (AI) large language model (LLM) using traditional Chinese, with technology assistance from Nvidia Corp. Hon Hai, also known as Foxconn Technology Group (富士康科技集團), said the LLM, FoxBrain, is expected to improve its data analysis capabilities for smart manufacturing, and electric vehicle and smart city development. An LLM is a type of AI trained on vast amounts of text data and uses deep learning techniques, particularly neural networks, to process and generate language. They are essential for building and improving AI-powered servers. Nvidia provided assistance
Gasoline and diesel prices this week are to decrease NT$0.5 and NT$1 per liter respectively as international crude prices continued to fall last week, CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. Effective today, gasoline prices at CPC and Formosa stations are to decrease to NT$29.2, NT$30.7 and NT$32.7 per liter for 92, 95 and 98-octane unleaded gasoline respectively, while premium diesel is to cost NT$27.9 per liter at CPC stations and NT$27.7 at Formosa pumps, the companies said in separate statements. Global crude oil prices dropped last week after the eight OPEC+ members said they would
RSS