4 Compelling Reasons to Choose Ozone API for Your Open Insurance Needs in Brazil

Written by Rajesh Chawan

As the insurance industry in Brazil embraces the advent of open insurance regulations, companies are facing the challenge of ensuring compliance with complex requirements. Developing and managing an in-house open insurance solution can be overwhelming, diverting valuable attention from core business activities. However, there exists a solution to simplify this process: Ozone API.

In partnership with TecBan, Ozone API offers a transformative open insurance solution. Here are four compelling reasons why Ozone API, supported by TecBan, stands as the ideal choice to ensure seamless open insurance compliance:

  1. Simplified Compliance with Open Insurance Regulations: The Brazilian open insurance standard comprises a vast network of over 100 individual APIs grouped into 15 sets, each with multiple updates and phases. Navigating this intricate landscape can be a challenge, but Ozone API streamlines the compliance process, ensuring your company effortlessly meets all regulatory requirements. Focus on your business goals while we handle the complexities of open insurance for you.

  2. Seamless Validation with Regulatory Conformance Suites: Complying with regulatory functional conformance suites is a critical aspect of open insurance in Brazil. These suites undergo frequent updates, and meeting their aggressive deadlines can be stressful. Ozone API’s expertise ensures that your solution undergoes hassle-free validation, staying up-to-date with evolving standards and passing the tests with ease.

  3. Robust Security and Compliance Assurance: Security is paramount in open insurance, and adhering to the OpenID Foundation’s security tests is a must. Building a comprehensive security framework from scratch can be resource-intensive and time-consuming. With Ozone API, you can rest assured that your solution will be secure and compliant, leaving you free to focus on providing exceptional services to your customers.

  4. Expertise in Accelerated Solution Development: As an insurance company, your core competency lies in insurance, not in rapidly developing complex IT solutions. Ozone API brings global experience in meeting open insurance regulations in various regions, enabling you to deploy efficient solutions promptly. Leverage our expertise to stay ahead in the fast-paced open insurance landscape.

In conclusion, the complexities of open insurance regulations in Brazil demand a strategic approach from insurance providers. Navigating the vast array of APIs, ensuring robust security, and meeting stringent regulatory standards can be a daunting task. However, with Ozone API in partnership with TecBan, these challenges become stepping stones towards success. Learn more about Open Insurance: An Era of Transparency and Customer-Centricity.

Our global expertise combined with TecBan’s proven track record in open banking and insurance solutions create a winning combination for your company. By leveraging our comprehensive solution, you can confidently meet open insurance requirements, streamline compliance, and focus on delivering exceptional services to your customers.

If you’re interested in learning more about how we can support your open insurance strategy, get in touch.

Recommended articles

Free industry report

Open Finance in Review: Looking back at 2023

As we begin to bid farewell to the year, and approach the dawn of a new one, it’s important to pause and reflect on the progress we’ve seen in the global Open Finance landscape over the past year. We’ve witnessed a range of significant events, remarkable progress, a few frustrations and – of course –...

Ozone API
08, Feb 2024
2024 banking predictions

Huw Davies’ Open Banking predictions for the year

With the start of a new year comes predictions for what that year might hold and in the world of open banking, where things move at pace, these predictions can be a little harder to pinpoint but a lot more interesting to explore. So, we decided to sit down with Ozone API’s Co-CEO, Huw Davies,...

Ozone API
11, Jan 2024
Observations on open banking standards

5 Observations from Supporting the Major Global Open Banking Standards

At Ozone API our mission is to help banks and financial institutions deliver high performing open APIs, so they can meet regulatory requirements and drive their strategies for creating revenue through value adding and premium APIs. Our background has involved creating a number of the leading global open banking standards so we have a fairly...

Huw Davies
11, Oct 2023