Open Insurance Brasil

What Open Insurance Brasil does

Open Insurance Brasil (Sistema de Seguros Aberto) is a Brazilian regulatory framework established in 2021 and overseen by SUSEP (Superintendência de Seguros Privados), the country's private insurance regulator. It enables consumers of insurance, open pension, and capitalization products to share their registration data, transaction records, and electronic device data between companies authorized by SUSEP, conditioned on prior, free, informed, and unequivocal electronic consent. The framework is administered through a three-tier governance structure: a Strategic level (Deliberative Council), an Administrative level (Secretariat), and Technical Groups, with an initial governance deadline of September 3, 2021 and a definitive governance deadline of November 29, 2024.

The technical foundation is a standardized API architecture organized around three operational pillars: Open Data (public service channel and product information), Personal Data Sharing (consent-based customer records), and Service Execution (digital initiation of services including claim notifications, pension portability, redemption, and policy modifications). Phase 1 of the rollout deliberately excluded personal customer data sharing. The APIs are designed for technical interoperability with Brazil's Open Banking initiative, positioning Open Insurance as a component of the broader Open Finance ecosystem, and the framework references LGPD compliance as a foundational principle. Distribution is structurally guaranteed because all insurance companies, open pension entities, capitalization companies, and credentialed client order processors regulated by SUSEP are required to participate.

As a government-administered regulatory initiative rather than a commercial business, Open Insurance Brasil has no revenue model, no pricing structure, and no go-to-market mechanics in the conventional sense. The entity is headquartered in São Paulo, Brazil, with a 12-person governance staff. Marketing and dissemination occur through the SUSEP official portal, the dedicated opinbrasil.com.br portal maintained by the governance structure, and public webinars. There are no funding rounds, no mergers or acquisitions, no commercial leadership team disclosed, and no patents or trademarks associated with the initiative.

Name

Open Insurance Brasil

Legal name

Open Insurance Brasil (Sistema de Seguros Aberto)

Website

https://openinsurance.susep.gov.br

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

Open Insurance Brasil (Sistema de Seguros Aberto) is a SUSEP-regulated framework enabling consent-based data and service sharing across Brazilian insurance, open pension, and capitalization providers, built on interoperable APIs that form part of the broader Open Finance ecosystem.

Ownership category

akta.pro rank

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations

Distribution channels1 record

Marketing channels3 records

Core offering

Open Insurance Brasil is a regulatory framework overseen by SUSEP (Superintendência de Seguros Privados) that standardizes the sharing of data and services among insurance companies, open pension entities, and capitalization companies in Brazil through APIs and system integration. The framework is structured into four implementation phases — Open Data, Personal Data Sharing, Service Execution, and Policy Portability — and is designed to interoperate with the broader Open Finance ecosystem.

Product overview

Open Insurance Brasil is a regulatory framework operated by SUSEP that enables data and service sharing in the Brazilian insurance, pension, and capitalization market. The system comprises three main components: Open Data (public product and service channel information), Personal Data Sharing (consent-based sharing of customer data), and Service Execution (digital initiation of insurance services). The framework uses APIs for technical integration and is designed to be interoperable with Open Banking, forming the Open Finance ecosystem. Phase 1 does not involve personal customer data sharing, with full implementation following a phased governance structure.

Differentiator

Problem solved

Functional benefit

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature1 record

Partnerships

Two partnerships are on record, tiered core.

• Open BankingcoreTechnology or IntegrationOpen Insurance is designed to be interoperable with Open Banking, forming the broader Open Finance ecosystem. This integration allows for seamless data sharing across banking and insurance sectors, enabling consumers to have a unified view of their financial products including insurance, pension, and banking services.
• Sociedades Processadoras de Ordem do ClientecoreTechnology or IntegrationClient order processing companies are credentialed by SUSEP for exclusive operation within Open Insurance. These companies can offer various solutions including data aggregation services, information dashboards and control panels, and service execution upon express consumer consent. They provide technological solutions that enhance the Open Insurance ecosystem.

Recent moves6 records

Expansion highlights3 records

Direct peers

• PSD2 / European Banking Authority Open Banking: PSD2 and the EBA's accompanying technical standards mandate open banking APIs across the EU. The framework's emphasis on consent-based data sharing, standardized APIs, and regulated intermediaries mirrors Open Insurance Brasil's design philosophy.
• Singapore MAS Open Finance: The Monetary Authority of Singapore is implementing an Open Finance API regime that spans deposits, investments, and insurance. It is one of the most directly comparable government-led open-finance initiatives outside Latin America.
• Consumer Data Standards (Australia): Australia's Consumer Data Standards body implements the Consumer Data Right across banking, energy, and other sectors. Its role as a government-led standards and certification authority is directly analogous to Open Insurance Brasil's function in Brazil.
• Open Banking Brasil: Open Banking Brasil is the sister regulatory framework governing open finance for the banking sector in Brazil. It is designed for interoperability with Open Insurance Brasil, and together the two form Brazil's national Open Finance ecosystem under overlapping regulators.
• Open Banking Limited (UK): Open Banking Limited is the UK implementation entity for the country's open banking framework. It provides API-based data-sharing standards and a governance structure analogous to what Open Insurance Brasil delivers for the Brazilian insurance sector.

Broad incumbents

• Financial Data Exchange (FDX): FDX is a US-based industry consortium that defines financial data-sharing standards spanning banking, investments, insurance, and tax data. While not a regulator, it competes for influence in shaping open-finance standards and serves as a broad incumbent in the same architectural space.

Regional players

• Mexico CNBV Open Finance: Mexico's CNBV is actively developing Open Finance regulations modeled in part on Brazil's experience. It is a closely comparable regional peer shaping the Latin American open-finance landscape.

Others

• Plaid: Plaid is a global financial data connectivity platform that aggregates bank, investment, and increasingly insurance data. It is an ecosystem enabler that benefits from — but does not directly operate — open-finance regimes like Open Insurance Brasil.
• Conselho Nacional de Seguros Privados (CNSP): CNSP is Brazil's higher-level insurance policy council that works with SUSEP to set the regulatory direction for the sector. It is the upstream policy body whose resolutions underpin the Open Insurance Brasil framework.

Emerging players

• TrueLayer: TrueLayer is an open banking infrastructure provider operating primarily in the UK and Europe. It builds the connectivity layer that sits on top of open-finance regulatory frameworks, analogous to the role 'sociedades processadoras' are expected to play within Open Insurance Brasil.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/open-insurance-brasil

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Open Insurance Brasil