Online insurance in Switzerland follows the same rules as insurance sold through a branch office. The company that signs the policy must be authorised by the Swiss Financial Market Supervisory Authority (FINMA), and the contract is governed by the Federal Insurance Contract Act (ICA), revised on 1 January 2022. Only the channel changes: the offer, the subscription and the management of the contract go through a website or an app.

The word "digital" therefore creates neither a separate status nor reduced protection. It covers two distinct businesses: the online insurer, which concludes the contracts itself, and the digital broker, which offers them on behalf of its clients. To follow the players in this market, 2clics gathers the news on Swiss insurtech.

What is a digital insurer in Switzerland?

A digital insurer is an insurance company that sells and manages its contracts mainly online. According to FINMA, any person or company that intends to "sign insurance policies" needs its authorisation, and this authorisation comes with supervision.

One example is Smile, the online insurer of the Helvetia group, the Basel-based insurer that is now part of the Helvetia Baloise group. In its press release of 31 October 2022, Helvetia presents Smile as the "Swiss leader in online insurance" and the "first digital insurance in Switzerland". These descriptions are the company's own; its press release does not cite any independent ranking.

The same press release gives the latest figures for Smile published by Helvetia in these texts: in 2021, its premiums rose by 11.8% to reach CHF 111 million. Helvetia also states there that in 2021 Smile was the first European insurer to launch a "freemium" model, which offers certain services free of charge to non-customers.

The model is being exported. Smile was launched in Austria on 31 October 2022 with the smile.home household insurance, distributed initially by the partner durchblicker.at. On 28 November 2023, Helvetia announced its arrival in Spain with smile.mobility, a liability insurance for e-scooters and e-bikes limited to 25 km/h, described as a "fully digital customer experience".

Insurer, broker or agent: who does what?

The difference lies in the link with the insurer. FINMA distinguishes between the insurance company, the untied intermediary (the broker) and the tied intermediary (the agent). Each falls under a different supervisory regime, even if it works entirely online.

PlayerWhat it doesFINMA oversight
Insurance company, including an online insurerSigns insurance policiesMandatory authorisation and supervision
Untied intermediary (broker)Offers contracts without any legal or economic link to an insurerMandatory registration in the public register, ongoing supervision, reporting, publication and information obligations
Tied intermediary (agent)Offers contracts in the interest of an insurerIn principle no registration in the register (except in special cases), indirect supervision through the insurer

For a broker, registration is not a formality. According to FINMA, untied intermediaries that are not registered "are carrying out their activity unlawfully". Both categories of intermediaries are also subject to a training and continuing education requirement, for which the industry is responsible and for which FINMA sets the minimum standards.

Digital brokerage often combines human advice with an online tool. A dated example: the insurance broker LTY in Sion, which opened its capital to Akiden Ventures in October 2026. According to its press release published on 16 October 2026, LTY has 15 employees, more than 10,000 private clients and more than 700 companies. Its client areas, on a proprietary platform, are independent of the insurance companies.

How can you check that an online insurer is supervised by FINMA?

The check is done on the FINMA website, using the company's name. Its "Authorised institutions, persons and products" page lets you search for an institution and publishes a list of "Insurers supervised by FINMA". It does not provide a separate category for online insurers.

The name to search for is that of the company named as the insurer in the offer or the policy, not just the commercial brand. For a broker, the search is done in the register of insurance intermediaries, which is separate from the list of insurers.

FINMA itself points out a limitation: its lists are updated regularly, but an authorised company may not yet appear on them, and another may remain on them even though its authorisation has been withdrawn. In case of doubt, the question can be put to FINMA directly.

What rights does the ICA give the customer of an online insurance?

The revised ICA, in force since 1 January 2022, applies to contracts concluded online just as it does to others. The insurer Allianz Suisse summarises the main changes on its website:

  • Right of withdrawal: the customer can withdraw their insurance application within 14 days; only collective personal insurance is not affected.
  • Termination after three years: a non-life contract can be terminated for the end of the third contract year or of any following year; a five-year contract can therefore end after the third or the fourth year.
  • Electronic communication: several notifications, including termination, can be made by e-mail, including for contracts concluded before 1 January 2022.
  • Limitation period: in most cases, claims become time-barred after five years instead of two; collective daily sickness allowance insurance remains at two years.
  • Direct claim in liability insurance: the injured party can contact the liability insurer of the person who caused the damage directly.

According to Allianz, the right of termination after three years applies in particular to household insurance, private liability insurance, vehicle insurance, business liability insurance and legal protection insurance. The new rules apply to contracts concluded or amended since 1 January 2022; electronic communication and the statutory right of termination also apply to older contracts.

What should you check before taking out online insurance?

A fast online process does not exempt you from reading the general terms and conditions of insurance. The following points should be checked before confirming, whatever the insurer:

  • Who the insurer is: the company that signs the policy, and its presence on FINMA's lists;
  • Who is advising you: an agent tied to an insurer or a broker registered in FINMA's public register;
  • The cover: the risks covered, the exclusions, the sum insured and the validity abroad;
  • The deductible: the amount you bear yourself for each claim;
  • The term: the expiry date, the notice period and the option to terminate after three years;
  • The claims service: how to report a loss, through which channel and with which contact person.

For supplementary health insurance, FINMA has a particular role. It examines and approves the tariffs and the general terms and conditions of these contracts subject to the ICA. Basic insurance under the Federal Health Insurance Act (HIA), on the other hand, falls under the Federal Office of Public Health (FOPH).

What should you do in the event of a dispute with a digital insurer?

FINMA advises first contacting the insurer's management, as many problems are resolved this way. It does not decide disputes between a policyholder and their insurer: these are a matter for the courts. Its role, under the Insurance Supervision Act (ISA), is to protect policyholders against abuse.

FINMA speaks of abuse when a detriment recurs or may affect a large number of people, or in the event of marked and unjustifiable unequal treatment. The customer can report a problem to FINMA through its reporting form, with a copy of their policy. However, they will not be informed of the progress of any investigation, as the report does not give them the status of a party.

For a private-law dispute, FINMA refers to two ombudsman offices:

  • the Ombudsman of Private Insurance, if the insurer is affiliated with the foundation "Ombudsman of Private Insurance and of SUVA";
  • the Health Insurance Ombudsman, for a health insurance fund or a supplementary insurance.

For supplementary insurance, the Civil Procedure Code provides for a simplified procedure, with no court costs for conciliation and the decision, except for a party acting recklessly or in bad faith. With a broker, FINMA specifies that it cannot help in a dispute of a private nature.

Finally, if an insurer goes bankrupt, policyholders rank ahead of other creditors. According to FINMA, the proceeds of the insurer's "tied assets" are used first for claims arising from insurance contracts; this priority ranking does not, however, guarantee full reimbursement.

Key figures

  • 1 January 2022: entry into force of the revised ICA;
  • 14 days: period for withdrawing an insurance application;
  • 3 years: period after which a non-life contract can be terminated each year;
  • 5 years: limitation period in most cases, compared with 2 years previously;
  • CHF 111 million: Smile's premiums in 2021, up 11.8% (Helvetia);
  • 10,000 and 700: private clients and companies of the broker LTY, according to its press release of October 2026.

Sources