Open insurance is once again the talk of the town: Despite a lot of resistance from the industry, its relevance will certainly increase over time. Driven by the market – but also driven by regulation. This web session will provide insights into the new Financial Data Access regulation (FIDA) that is currently one of the hot topics discussed between the political trilogue parties at EU level.

During this web session we will discuss, based on the current status of the regulatory developments:

• What is FIDA? How does it fit into the overall European economic strategy?
• What is the timeline for introduction of FIDA?
• Which types of insurance, products and data are affected by FIDA?
• How does the data exchange process work in practice?
• What are technical and data requirements to be implemented when preparing for FIDA implementation?
• Explore session: Focus on product development, pricing, underwriting and other areas of potential FIDA use cases. How can insurers – and in particular, actuaries – make use of new data availabilities made possible by FIDA?
  

This web session is intended for all actuaries and data scientists both in the life and non-life insurance industry who wish to understand the new open insurance regulation and discuss approaches for chances and opportunities driven by FIDA, especially those with a focus on product development, pricing or underwriting. No prerequisites are required.

Technical Requirements
Please check with your IT department if your firewall and computer settings support web session participation (the programme Zoom will be used for this online training). Please also make sure to join the web session with a stable internet connection.

By the end of the online training, participants will have a basic understanding of FIDA (mechanism, timeline of introduction, scope) and how the new requirements can potentially be used in a beneficial way, especially in product development, pricing or underwriting.

The language of the web session will be English.

Melanie Schlünder
Melanie is a certified actuary and certified public accountant with more than 12 years of experience in the insurance industry. She is working as a Director at PwC GmbH WPG in Germany and is based in Frankfurt. She leads the insurance regulatory practice and focuses on insurance regulation and supervision since the early days of introduction of Solvency II. As a certified public accountant, she was responsible for the audit of a market-leading life insurance entity in Germany. She is an active member of the actuarial community in Germany and member of several working groups. Melanie is also part of the EIOPA Expert Group on Data Usage in the Insurance Sector and author of many publications and commentaries.

Tilmann Schmidt
Tilmann is a certified actuary with more than 17 years of professional experience in the insurance industry, thereof several years working as a global oversight for the life reinsurance segment of a global reinsurance company. He is currently working as a Senior Manager at PwC GmbH WPG in Munich, Germany. His focus is on life insurance. He has extensive experience in regulation and adherence to regulatory changes comprising both quantitative (e.g. financial/actuarial valuation and accounting according to IFRS, Solvency II and German GAAP, as well as capital and asset liability management) and qualitative (e.g. introduction and evolution of Actuarial and Risk management functions according to Solvency II regulation) requirements. He is also an active member of the actuarial community in Germany and member of several working groups, author of many publications and speaker at professional events.