What the EU Data Act and Vehicle Data Guidance Mean for Insurers, OEMs, and Insurance Innovators

EU Data Act is now applicable, improving access to data in the EU market for individuals and businesses. What does it mean for the insurance industry?

European Commission has just published Guidance on vehicle data, accompanying the Data Act.

This guidance provides tailored advice to automotive stakeholders on how to implement Chapter II of the Data Act.

It explains the key obligations of the Act as they relate to vehicle data, focusing on the data that fall within the scope of Chapter II and the applicable access rules.

Importantly, the guidance only concerns the automotive sector including original equipment manufacturers (OEMs), suppliers, aftermarket service providers and insurance providers.

Its content cannot be automatically extrapolated to other industries or to the public sector.

Compulsory reading for all insurance innovators and beyond.