Brazilian Superintendence of Private Insurance launches dialogue cycle to assess five years of the Regulatory Sandbox and gather input for improvements

The Brazilian Superintendence of Private Insurance (SUSEP) has started an “Open Dialogue” cycle on its Regulatory Sandbox, five years after the programme’s launch, to publish and scrutinise results, collect stakeholder contributions to refine the model, and identify wider regulatory impacts that could inform future changes to SUSEP and National Council of Private Insurance (CNSP) rules. SUSEP reported that 21 companies have been authorised to operate in the sandbox environment. Of these, 11 have already requested and obtained definitive authorisation to operate as insurers or have applications under review, five remain within the sandbox operating period, and five have withdrawn. The initiative will run in three phases: outreach to distinct target audiences (civil society, sandbox participants and former participants, supervised entities that did not participate, and representative bodies), interviews with participating companies including those that exited or ceased operations, and the consolidation of inputs into a technical report assessing results and impacts, reviewing the current regulatory framework, and proposing regulatory enhancements. Suggestions and participant-company questionnaire responses are due by 14 November, with SUSEP aiming to complete a technical diagnosis and receive proposals by end-2025 and pursue subsequent follow-up actions in 2026.