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  • Insurance
  • Germany

A German Initiative Paving the Way for the Open Insurance Market


  • The German Free Insurance Data Initiative (a.k.a. Frida) looks into applying PSD2 compliant open interfaces and data exchange capabilities in the insurance sector.
  • This initiative stems from shared ambitions on the part of insurance players, including Friendsurance and InsurLab.
  • Frida is intended as a uniform interface built on common standards shared by all insurance firms to improve data transfers. Insurance groups, brokers, InsurTech and even insured parties would then benefit from this interface.


  • Improving the existing system. Frida’s project holders blame the existing system, describing it as slow, cost-inducing and inefficient.
  • Boosting market efficiency. Frida isn’t meant to fight competition or blur frontiers between insurance groups. It is intended to boost the emergence of new value-added services, while making sure consumer data stays protected.
  • Anticipating regulatory changes. The groups behind this project are insurance firms looking to implement their own rules to weigh on the upcoming regulatory framework. They are joining forces to create a standard that would help the “Open Insurance” concept emerge in a context which emphasises open services and data sharing.


  • Frida intends for changes to be applied to the insurance sector, as they are being implemented to address payment data based on PSD2-entailed Open Banking opportunities. Indeed, this concept doesn’t (yet?) make room for credit, savings or insurance information.