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Insurance API
Unleash the potential of your business
We provide an integrated platform where insurance companies connect with external partners via simple and scalable APIs
a new digital age
Insurers have a choice
Insurers have a choice: be disrupted or be the disruptor with new products, services, and business models.
Most insurers, though, do not have innovation in their DNA. Regulation has curbed incumbents’ ability to experiment, while limited competition has given them no particular need to do so—the size of their in-force books makes it hard for new entrants to build market share, and start-ups seldom want to take risk on to their balance sheets because of the capital required to offset it. But innovate they must.
Although there is significant opportunity to capture value in the short term by digitizing their current business, they will get left behind if they fail simultaneously to use digital technology to innovate and build new business.
Digital disruption in insurance: Cutting through the noise by McKinsey & Company
open APIs
a new element of strategy
Diversified partners are aware that the preparation of digital tools for product distribution and communication with customers is crucial for effective partner acquisition. This is due to the fact that outside the insurance sector, expectations of partners and customers regarding digitization are usually higher.
It is also required by a simplified and modular product offer, characterized by small sums insured, premiums and commissions (too low for human service to be profitable). Of particular importance for these insurance companies is the online channel understood as a sales tool issued by the insurer or API enabling the partner to build such a tool – depending on the product.
SRC: Report prepared by Accenture in cooperation with the Polish Insurance Association
In order to remain relevant in the lives of their customers, insurers must continually respond to their most important needs. Those companies that take advantage of the COVID-19 pandemic’s transformative moment and focus on digital technology will prepare themselves for success in the future.
Digitalization is an evolution, not a revolution. Insurers who are unable to develop digital strategies for their customers today will be left behind tomorrow.
Research shows that 76% of people still believe paper policy documents are more trustworthy than digital ones. Today, there is a great opportunity to capitalize on the perceived challenges of an increasingly digital world. As a result, insurers can demonstrate their technological infrastructure and position themselves as leaders in the digital insurance space, thereby increasing market share and loyalty.
… it is estimated that the market of embedded finance (ie embedding financial products in consumer channels, eg e-commerce loans) will be worth USD 3 trillion.
Embedded insurance, i.e. integrating insurance into online and e-commerce platforms, is its high-margin part. This requires insurers to have a clear open insurance policy and to build an API that is easy to implement. Suddenly the end customer will be the development team and the product of the insurance API instead of the policy
The next generation of API
Low Code API Design
creating new APIs for new insurance products is mainly configuration
Scalability
advanced queuing mechanisms can cope with high workloads very well
Maintenance
ongoing monitoring of availability and performance as well as guaranteed SLA
Development
The API evolves with the development of the product, always remaining up-to-date
OpenAPI
always up-to-date documentation prepared in accordance with the Open API standard
Integration support
a dedicated team supporting your partners in the integration process
Security standards
we adhere to the highest industry safety standards
API & UI
simultaneous access to offers and policies from the interface and API level
It's not just an API
We are committed to providing you high-quality APIs, and we work hard to keep them up to date.
To allow us to provide you with best-in-class services over the long term, we will be deprecating several of our APIs
Design and build
Our process is quicker and more reliable than usual. We can deliver in a weeks, while other APIs take many months.
Monitor and maintain
We monitor the API and provide ongoing maintenance to ensure consistent performance.
Integration support
To ensure smooth integration, we offer support and consulting services to our customers and their partners
Development
Most of our development resources are internal, allowing us to be extremely agile, quick, and low-risk when scaling.
Are you looking for a comprehensive sales solution based on the Standard Open API standard?
SANDIS API Suite combines the tools for integrating the sharing of insurance company’s products through a modern API tool:
- build new distribution channels thanks to API integration
- share multiple products with your partners in a standardized manner
- use a ready and proven solution with the support of an experienced maintenance team
- get stability and scalability that is difficult to achieve with an in-house development team
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