Virtual Competition: Online Platforms, Consumer Outcomes and Competition in Insurance
Online platforms can foster insurance market transparency and reduce both transaction costs and information asymmetries, factors typically associated with increased competition and societal welfare. However, online platforms also give rise to new challenges concerning consumer protection and competition which should be addressed by policymakers.
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Virtual Competition: Online platforms, consumer outcomes and competition in insurance
The platform economy has the potential to deliver substantial economic and societal benefits. At the same time, the rise of online platforms creates new challenges for consumer protection and competition policy. In order to ensure a thriving and competitive marketplace, policymakers should consider the role of data as a production factor and data itself as a potential barrier to market entry when assessing market power and potential anti-competitive conduct.
Virtual Competition: Online platforms, consumer outcomes and competition in insurance | Research report
Author: Benno Keller
The platform economy has the potential to deliver substantial economic and societal benefits. At the same time, the rise of online platforms creates new challenges for consumer protection and competition policy. In order to ensure a thriving and competitive marketplace, policymakers should consider the role of data as a production factor and data itself as a potential barrier to market entry when assessing market power and potential anti-competitive conduct.
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