Most European insurance experts believed that open insurance could disadvantage incumbent insurance companies and advantage Big Tech if only insurance-related data is shared. Open insurance refers to insurance-related personal and non-personal data and is usually accessed and shared via APIs. Approximately 43 percent of the respondents feared that only sharing insurance-related data would benefit Big Tech firms who have access to a wide range of consumer data at the expense of traditional insurance companies.
Share of European insurance experts who believe only sharing insurance-related data could disadvantage insurance companies and favor Big Tech in 2021
representatives of key players in the European insurance market
Supplementary notes
The responses were published in the form of comments, which Statista then clustered and converted to numerical values.
The question was phrased by the source as follows: “do you believe that open insurance only covering insurance-related data could create an un-level playing field for incumbent insurance undertakings vis-a-vis other entities such as BigTech firms? Please explain your response.“
Percentage points exceeding 100 percent are due to rounding.
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Statista. (March 1, 2022). Share of European insurance experts who believe only sharing insurance-related data could disadvantage insurance companies and favor Big Tech in 2021 [Graph]. In Statista. Retrieved November 24, 2024, from https://www.statista.com/statistics/1332171/open-insurance-insurance-data-insurers-big-tech/
Statista. "Share of European insurance experts who believe only sharing insurance-related data could disadvantage insurance companies and favor Big Tech in 2021." Chart. March 1, 2022. Statista. Accessed November 24, 2024. https://www.statista.com/statistics/1332171/open-insurance-insurance-data-insurers-big-tech/
Statista. (2022). Share of European insurance experts who believe only sharing insurance-related data could disadvantage insurance companies and favor Big Tech in 2021. Statista. Statista Inc.. Accessed: November 24, 2024. https://www.statista.com/statistics/1332171/open-insurance-insurance-data-insurers-big-tech/
Statista. "Share of European Insurance Experts Who Believe Only Sharing Insurance-related Data Could Disadvantage Insurance Companies and Favor Big Tech in 2021." Statista, Statista Inc., 1 Mar 2022, https://www.statista.com/statistics/1332171/open-insurance-insurance-data-insurers-big-tech/
Statista, Share of European insurance experts who believe only sharing insurance-related data could disadvantage insurance companies and favor Big Tech in 2021 Statista, https://www.statista.com/statistics/1332171/open-insurance-insurance-data-insurers-big-tech/ (last visited November 24, 2024)
Share of European insurance experts who believe only sharing insurance-related data could disadvantage insurance companies and favor Big Tech in 2021 [Graph], Statista, March 1, 2022. [Online]. Available: https://www.statista.com/statistics/1332171/open-insurance-insurance-data-insurers-big-tech/
