Regulatory sandbox

{
  "id": "MLC-T-INS-002840",
  "term": "Regulatory sandbox",
  "field": "Insurance and risk management",
  "definition": "A framework established by regulatory bodies to allow financial technology (fintech) and insurtech companies to test innovative products, services, or business models in a controlled environment. Participants operate under relaxed regulatory requirements for a limited period, enabling experimentation without full compliance burdens. This initiative aims to foster innovation while monitoring potential risks to consumers and the financial system.",
  "url": "https://mlchart.com/terminology/insurance/regulatory-sandbox/"
}