The pillars of Open Insurance

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In this way, following the principles of Open Banking, Open Insurance seeks to promote an open innovation strategy, through the implementation of standardized integration protocols: APIs (Application Programming Interfaces). In other words, the system will work to offer better experiences to consumers by making several companies in the segment work together.


With the aim of offering more complete and integrated solutions — developed by highly specialized suppliers, promoting the sector's competitiveness —, Open Insurance is based on three fundamental pillars.


Open Innovation
It represents a distributed innovation process, that is, data and tunisia mobile database services will be available to partners and startups to stimulate the development of new solutions.


Digital Experiences
As digital transformation is an increasingly pressing and competitive need within organizations, there is a strong incentive to invest in user experience, based on the use of services and data from insurance companies, with the use of technological resources and data analysis.


New Business Models
By making products and services more accessible, optimizing processes and fostering sector growth, the tendency is that, through innovative solutions, there will be greater progress in creating new business models for insurance companies.


In addition to the pillars, other aspects become fundamental to the implementation of Open Insurance, such as:

Optimization through the use of APIs to facilitate connections between different systems;

Data collection that will allow the creation of products customized to needs;

Agility in processes, since by creating a fully integrated ecosystem, operations tend to be carried out more quickly;

Improving the consumer experience, while increasing competitiveness in the sector, in addition to encouraging innovation.


The implementation of Open Insurance
Like Open Banking, the implementation of Open Insurance will also occur in phases. According to Susep , the process will be divided into three stages and the expectation is that it will be completed by 2022. The first phase is marked by Open Data, which includes public data from supervised companies, service channels, available products and marketplace. The entire process should be completed by 12/15/2021.