Open insurance: insurers vs Big Tech firms 2021

Most European insurance experts believed that open insurance could disadvantage incumbent insurance companies and advantage Big Tech if only insurance-related data is shared. Open insurance refers to insurance-related personal and non-personal data and is usually accessed and shared via APIs. Approximately 43 percent of the respondents feared that only sharing insurance-related data would benefit Big Tech firms who have access to a wide range of consumer data at the expense of traditional insurance companies.

Share of European insurance experts who believe only sharing insurance-related data could disadvantage insurance companies and favor Big Tech in 2021

Characteristic	Share of respondents
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Release date

March 2022

More information

Region

Europe

Survey time period

January to April 2021

Number of respondents

54 respondents

Special properties

representatives of key players in the European insurance market

Supplementary notes

The responses were published in the form of comments, which Statista then clustered and converted to numerical values.
The question was phrased by the source as follows: “do you believe that open insurance only covering insurance-related data could create an un-level playing field for incumbent insurance undertakings vis-a-vis other entities such as BigTech firms? Please explain your response.“
Percentage points exceeding 100 percent are due to rounding.

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