The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has proposed a substantial overhaul of insurance intermediaries under the country’s insurance market development program through 2030. The reforms would clarify responsibility for product sales and claims support, expand consumer choice and sharpen the distinction between agents acting as retail distribution channels and brokers providing independent professional advice. Agents would be allowed to sell both compulsory and voluntary insurance and represent multiple insurers, removing current product and exclusivity restrictions. Their activities would remain focused on individuals, with a proposed ban on recruiting corporate clients to limit conflicts of interest. Brokers would compare insurers’ offers, help clients select coverage and provide support throughout claims handling, including document preparation and payment follow-up. They could also receive insurer remuneration for developing products and digital services. Previously unregulated intermediaries that help road accident victims obtain compulsory motor insurance payments would enter the regulatory perimeter. They would have to join a register and disclose their fees, and would be barred from acquiring claims against insurers. Together with new marketplace and disclosure requirements, the measures are intended to reduce hidden commissions and unwanted services while improving transparency and competition.

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