Insurance Regulator to Launch Innovation Fund

The Central Insurance company of Iran (CII), the regulator of the industry, says it plans to create a special fund to help fund innovation.
"CII will continue to support the use of advanced technologies in the sector…We intend to set up a fund to this effect and augment the recently-established innovation center," Majid Behzadpour, the CII head was quoted by the company website as saying. No further details were available.
Behzadpour stressed that the CII, as a state organization, does not intend to intervene in the working of insurers but "seeks to play the role of an accelerator for insurtech solutions and help promote creative services in the industry."
The CII recently launched its long-awaited innovation center. It has been announced that the center will not seek investment but rather focus on drawing new talent to innovate the insurance industry.