Cases

With Open Insurance emerging globally, a Dutch Insurance Association asked INNOPAY how to position itself for Open Insurance for the Dutch market​.

Challenge

• The client wanted to understand how to optimally support its members with their strategic Open Insurance initiatives and how to initiate the creation of the “collaborative domain” of Open Insurance for the Dutch insurance sector​

Approach

• Performed an extensive research on Open Insurance initiatives worldwide, supported with insights from the INNOPAY Open Insurance Monitor and views from external experts on Open Insurance​
• Conducted interviews with multiple Dutch insurers for their vision on Open Insurance, and the opportunities and challenges they observed​
• Conducted interviews with key Dutch regulators (Dutch Central Bank, Dutch Authority for the Financial Markets) and the Dutch Ministery of Finance to collect their views and initiatives on Open Insurance for the Dutch market​

Key results

• Detailed strategic report containing an extensive definition of Open Insurance, capturing relevant market and regulatory developments, supported with best practices from Open Banking, and 6 possible strategic roles for insurers in transitioning to an “Open Insurer” busines model​
• Pragmatic action plan and roadmap for the Dutch Insurance Association and member insurers to initiate Open Insurance for the Dutch market both in the collaborative domain and the competitive domain​