Which customer data is relevant for FiDA?

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

Customer data in the sense of FiDA

What is Financial Data Access Regulation

Customer Data – personal and non-personal data collected, stored and otherwise processed by a financial institution in the normal course of its business with customers, including both data submitted by customers and data generated as a result of the customer’s interaction with the financial institution

“Data” means any digital representation of acts, facts or information and any compilation of such acts, facts or information, including in the form of a sound, image or audio-visual recording

Customer data in the following categories:

Insurance specific

  • Insurance products, including data on insured assets (1)(excluding life and health insurance products)
  • Investments in insurance-based investment products (2), as well as the resulting economic benefits (e.g. private pension insurance, capital life insurance)
  • Pension entitlements in company pension schemes and private pension products (3) (e.g. company pension schemes)

Non-insurance specific

  • Savings, investments in financial instruments, crypto assets, real estate and other financial assets and the resulting economic benefits
  • Mortgages, other loans, savings accounts and all other accounts not yet covered by PSD2 (or the draft PSR), including balance, terms and transaction details
  • Credit assessment as part of a credit application process or a credit inquiry
  • Suitability and appropriateness assessment according to MiFID
  • Sustainability-related data

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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Open Insurance Working Group

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*Data protection
By registering, you expressly consent to the data collected being stored and processed by us. The data storage/processing takes place exclusively for the purpose of conducting the above-mentioned event. The storage and processing of any previous data collected in another context is not affected by this. The legal basis for the storage and processing of the data collected with the registration is Art. 6 Paragraph 1 Clause 1 Letters a), b), f) GDPR. Please also note the additional information on data protection.

*Legal notice
I agree that the name of my company may be mentioned as a permanent participant in the Open Insurance working group of BiPRO e.V. If you do not agree to this, please send a short message to fida@bipro.net.