Around the world: Buying insurance on mobile phones

The Treasury’s recent Simplified Products consultation has nudged the UK insurance market into considering this space as a new sector. Meanwhile, Ghana is leading the way with the recent launch of a life insurance policy where the distribution and administration centres around a mobile phone. Will the future regulatory environment stimulate this type of innovative response in the UK, or prevent it? While we decide, the developing world continues to come up with innovations and solutions for distributing insurance products. Some foreign innovation may not be transferable to the UK, but...