In a major step toward modernizing the insurance industry, openIDL (the open Insurance Data Link) has officially launched the openIDS Data Specifications Working Group — a collaborative effort aimed at revolutionizing how insurance data is standardized and shared across the sector.
This initiative comes at a pivotal time for carriers, regulators, and vendors alike, all of whom are navigating a rapidly evolving digital landscape. By introducing an open, shared data framework, the openIDS Working Group aims to break down data silos, foster meaningful collaboration, and unlock new opportunities for innovation and speed-to-market.
Why This Matters
The insurance ecosystem is filled with talented partners — from insurtech startups to legacy system providers — but too often, outdated data structures and inconsistent formats get in the way of collaboration. The openIDS Working Group is tackling this challenge head-on, creating a modern, flexible, and community-driven data standard that makes it easier to build together.
Key goals of the openIDS initiative include:
- 💡 Fuel Innovation: With a shared language for data, organizations can more easily build new tools, products, and services that work across systems and partners.
- 🤝 Simplify Vendor Collaboration: A common data standard reduces integration friction and shortens the time it takes to launch new solutions.
- 📊 Support Smarter Regulation: While not the sole focus, the framework also streamlines regulatory reporting by reducing redundancy and making compliance faster and more consistent.
- ⚙️ Increase Operational Efficiency: By eliminating duplicative data efforts, organizations can reallocate resources and improve accuracy.
Whether you’re modernizing core systems, testing new data partnerships, or simply tired of reinventing the wheel with every integration, openIDS offers a smarter, more scalable path forward.
Join the Conversation: April 21 at 4PM EST
If you’re a carrier, technology partner, regulator, or insurance innovator, we’d love to collaborate with you.
📅 The next openIDS Working Group meeting is April 21 at 4:00 PM EST.
📩 Message us to find out how to be invited to the meeting.
This is your opportunity to shape the future of insurance data and contribute to an open, interoperable foundation that benefits the entire industry.
About openIDL
openIDL is a Linux Foundation project that brings together stakeholders from across the insurance ecosystem to improve the way data is shared, secured, and utilized. Through open-source governance and community-led development, openIDL promotes transparency, trust, and innovation — while giving participants full control over how and when their data is used.
🔗 Read the official press release
Let’s build the future of insurance — together.