When does FiDA come into force?

BiPRO e.V. (Industry Institute for Process Optimization) is a standardization body in the insurance industry that aims to simplify and standardize communication and data exchange between insurance companies and other financial industry players. BiPRO plays a crucial role in Open Finance / Open Insurance (including FiDA), as it serves as a common framework for interoperability between different systems and platforms.

BiPRO is FiDA-Ready!

Shape the Future now!

Table of contents

Roadmap of FiDA

When does FiDA come into force?

The ECON Committee of the EU Parliament approved the FIDA draft on 18 April. The press release of the ECON Committee announces that the decision in the plenary session of the EU Parliament will only be decided by the new Parliament after the election.

Link to Press Release

At the same time, discussions are taking place in the bodies of the European Council. As soon as Parliament and Council have drawn up their opinions, the trialogue process between the EU Commission, Parliament and Council will start in order to arrive at a final draft law, which must then be finally approved by Parliament and Council.

A final adoption of FIDA will most likely not occur until 2025. The implementation period of 24 months (according to the current draft) then begins. In this respect, online, real-time and continuous data access for customers and data users must be implemented by 2027.

FiDA

BiPRO is FIDA-Ready!

BiPRO focuses on process optimization, standardization and community. The BiPRO standards have created an industry-wide, generally recognized market standard that enables sustainable digitalization of the insurance industry.

Thanks to the large BiPRO community, Germany is becoming a pioneer of digital insurance communication in the EU, while other countries and initiatives essentially have to start from scratch when it comes to standardization.

The BiPRO data model and the specifications of the interfaces already largely cover the requirements of FiDA, including with regard to end customer processes and customer data. The industry-wide implementation of data transmission is well advanced for most members.

Member companies

K. Interfaces

M. transactions p.a.

Years of work

The BiPRO community consists of more than 300 member companies.

Together, the essential processes of the insurance industry were standardized.

BiPRO community drives digitalization of the industry.

The association has been supporting its community with know-how for almost 20 years.

Shape the future now

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