Open Insurance: The Consumer Data Right and Insurance
This report by Dr Richard Tooth and published by the Financial Rights Legal Centre is the first comprehensive attempt to understand the concept of Open Insurance in Australia.
Open Insurance as a concept has yet to be fully defined either by government or industry. The report looks at the use of consumer data and the concept of Open Insurance through the lens of the consumer, and examines how the Consumer Data Right model is likely to apply to general insurance. It also explores the risks and issues associated with its implementation, both for the insurance sector and for consumers, and proposes a set of recommendations for areas that need further examination and research.
The full report can be read on the Financial Rights Legal Centre website: https://financialrights.org.au/wp-content/uploads/2020/12/Open-insurance-final-report.pdf