IA-2.4.1
a) Insurance aggregators must disclose prominently on the home page or similar page of the relevant application that the prospective client's/visitor's particulars could be shared with insurance firms if the arrangements the insurance firms warrant such a disclosure
b) Insurance aggregator must provide an option to select multiple insurance firms by the visitor, to whom the proposal must be transmitted simultaneously;
c) Insurance aggregators must provide an option to select or choose between conventional insurance and Takaful products;
d) Insurance aggregators must not transmit the proposal containing data of a client to insurance firm (s) other than the one(s) preferred by the client. However, if the client shows interest in buying insurance but does not prefer any insurance firm , the insurance aggregator may transmit the proposal to several insurance firms in the same class of insurance business based on the need analysis of the client;
e) Ensure that the proposals and other data are transmitted to the insurance firms and others using secured data encryption technologies;
f) Disclose in all its correspondences with all stakeholders its name followed by "licensed as an Insurance Broker — Insurance Aggregator by the Central Bank of Bahrain".
October 2019