Impact of the EU regulation on open access to financial data (FIDA) on the insurance industry

A joint white paper by

On June 28, 2023, the EU Commission published a draft framework for access to financial data (FIDA), which is intended to promote competition in the financial sector and give consumers more control over their financial data. What does this legislative proposal mean for the insurance industry? We explored this question together with our members adesso, BLD and FRIDA.

The joint publication includes:

• A practice-oriented classification of the FIDA draft in the context of Open Insurance.
• An analysis of the implications for the insurance landscape.
• Recommendations for action for affected stakeholders, including insurers, intermediaries and start-ups.
• A careful legal assessment of the legislative proposal.

The whitepaper "Impact of the EU regulation on open access to financial data (FIDA) on the insurance industry" is now available for free download below: