When an applicant seeks authorization, the regulator recommends that the applicant ask for an informal meeting to discuss its project and the timeline. Subsequently, an application form corresponding to the regulated activities must be completed and submitted to the regulator with all the relevant supporting documents.

The regulator will examine the application and may ask for further information or additional documents according to specific features of the project.

The procedural timeline depends on the authorization sought. It can vary between three months and 12 months, depending on the regulated activities.

There are no particular sandboxes available for fintechs but the AMF and ACPR created internal fintech departments and try to accommodate these companies within the boundaries of the existing legal framework. 

While the applicable codes set forth clear timelines for an insurance/reinsurance license application, the process is very similar to the one applicable to banking and financial institutions, and informal discussions with the ACPR will in practice be key for the success of the application.

The process for registration of an insurance intermediary is much shorter (two months on average).