Susep to collect suggestions for Open Insurance manuals

For this and given the pertinence of the theme, the Municipality will receive, until mid-June 2021, suggestions for the elaboration of the final version of the documents. This is another important step in the progress of the project, whose first phase of implementation should be completed by December 2021. In the process of public consultation started in April 2021, Open Insurance is an environment that allows easier access for consumers to insurance products and services, through data sharing with other insurers or third parties, in a safe, agile way , accurate and convenient. The project will allow the creation of products that are more customised and better suited to the needs of consumers and more friendly functionality, which will generate development opportunities for the insurance sector as a whole.

With the details of the technical requirements and operational procedures to be observed by the companies participating in Open Insurance, the manuals are essential tools in advancing the process of implementing the ecosystem. There will be five manuals in all. For the implementation of the first phase, Susep will publish four manuals, which will discuss, in detail, the technical requirements and operational procedures that insurance companies must observe in the Open Insurance environment.

With the objective of compatibility between Open Banking and Open Insurance, the manuals, where possible, have the same structure and definitions as the manuals presented by the Central Bank of Brazil for Open Banking. The greatest differences between the manuals prepared when compared to the Open Banking manuals can be seen in the data and services scope manual that portrays the business characteristics of the insurance, open private pension, and capitalisation sector.

During the first phase, Open Insurance will cover only a few lines of business. Thus, the Data Scope manual includes comprehensive residential insurance products, car insurance, personal insurance, open supplementary pension plans, and capitalisation. The Open Insurance Customer Experience handbook will be released in the future, as it is part of the implementation of the second phase of the project, scheduled for May 2022.