Brazil's Superintendence of Private Insurance issued a resolution with immediate effect amending the framework that implements National Council of Private Insurance guidelines for the Open Insurance System (OPIN). The update shortens the minimum participation period for firms that join OPIN voluntarily, introduces a new OPIN Monitoring Manual, and sets minimum content requirements for key customer and operational documentation. Voluntary participants can now exit OPIN after 30 days rather than 12 months, and may exit immediately where the firm has no active customer consents. SUSEP linked this change to supervised-market requests and alignment with Open Finance rules regulated by the Central Bank of Brazil. The Monitoring Manual is intended to define efficiency and compliance criteria to be checked across consent journeys, services made available, and the tools and services provided by the OPIN governance structure. Minimum content expectations were also detailed for the Customer Experience Manual, the Dispute Resolution Platform, and the Monitoring Manual.
Brazilian Superintendence of Private Insurance (SUSEP) 2025-11-05
Brazil's Superintendence of Private Insurance amends Open Insurance rules cutting the voluntary exit minimum stay from 12 months to 30 days and creating a monitoring manual
Brazil's Superintendence of Private Insurance (SUSEP) amended the Open Insurance System (OPIN) framework, reducing the minimum participation period for voluntary firms from 12 months to 30 days, with immediate exit allowed if no active customer consents exist. The update includes a new OPIN Monitoring Manual and sets content requirements for key customer and operational documentation. These changes align with Open Finance rules by the Central Bank of Brazil and respond to market demands.