Bermuda embraces technology and innovation, and this is being incorporated into its insurance industry. The authority recently introduced 'sandbox' and 'innovation' amendments to its rules, primarily aimed at insurtech start-ups. These amendments reduce barriers to entry for start-ups with new, untested ideas, and provide an incubator for new insurers with innovative business models needing time to develop. These new rules include appropriate regulatory oversight, time limitations, disclosure requirements and statutory reporting designed to protect policyholders.