0.25 CIP Points
Open insurance is coming! What do you need to know?
On 24 January 2022, the Australian Government Treasury released a report on outcomes from the Consumer Data Right (CDR) Strategic Assessment. The Strategic Assessment Outcomes Report identifies ‘Open Finance’ as the next priority area to expand the CDR. This exciting announcement ends speculation as to...
11 May 2026
2 mins read
On 24 January 2022, the Australian Government Treasury released a report on outcomes from the Consumer Data Right (CDR) Strategic Assessment.
The Strategic Assessment Outcomes Report identifies ‘Open Finance’ as the next priority area to expand the CDR.
This exciting announcement ends speculation as to whether the general insurance sector will be designated. What does this all mean for insurers, brokers and insurtechs?
What is open insurance?
We’ve been talking about open insurance for a while now, so you can check out this article I published last year for the low-down. In a nutshell, open insurance covers ‘accessing and sharing insurance-related personal and non-personal data usually via APIs’ (EIOPA definition).
Open insurance will enable consumers to direct the sharing of their insurance data to other insurers or intermediaries.
Related Resources
0.25CIP Points Liability pressure building as class actions reshape insurance risk
In Brief Liability reform is back on the insurance agenda in Australia and New Zealand...
4 mins read
0.25CIP Points 1 min read
0 Comments