About expansion of IT activities of insurance sector participants
On June 30, 2025 the Head of State signed the Law of the Republic of Kazakhstan "Amendments to Certain Legislative Acts of the Republic of Kazakhstan on Development of the Financial Market, Protection of Rights of Consumers of Financial Services, Communications and Elimination of Excessive Legislative Regulation."
The law provides for expansion of IT activities of insurance sector participants.
Insurance organizations will be able to develop on their own software for automation of insurance activities, creation of marketplaces and development of online services.
Moreover, insurance organizations and insurance holdings will be able to acquire shares and interests in IT companies. This will allow them to boost new digital products, introduce innovative technologies and improve quality of customer service.
Functionality of the Insurance Payments Guarantee Fund has been supplemented by development of software used to automate activities of insurance organizations, conduct training and improve qualifications of specialists in the field of insurance.
Implementation of these initiatives brings direct benefits to all participants of the financial market related to improved inclusion, expanded access to insurance products, reduced costs and automation of insurance services, and increased competition in the financial market.
The Law takes effect sixty calendar days after it is promulgated.
External Communications Directorate