RL - Insurance

6 reasons to use APIs in digital insurance

Issue link: https://resources.axway.com/i/1051421

Contents of this Issue


Page 0 of 0

Learn more about the value of APIs GET THE FREE CELENT ANALYST REPORT go2.axway.com/celent-report Copyright © Axway 2019. All Rights Reserved. axway_CK_apis_insurance_celent_en_012219 axway.com REASONS TO USE APIs IN DIGITAL INSURANCE 6 To stay competitive, insurance innovators are turning to API technologies that deliver the new digital experiences customers expect. Recognizing the rewards (and risks) is the first step in moving your API strategy forward. How APIs add value: 2 Innovate fast. APIs provide quick, efficient access to back-end systems and let you introduce a product without disrupting legacy systems. Plus, utilizing shared data reduces duplicate efforts and speeds time to market. 3 Wow customers. Today's digital consumers expect you to make it easy to renew coverage, file a claim, and manage policies wherever and whenever they want. APIs that access real-time data let you use the information to engage customers. 4 Secure everything. Opening up data comes with certain risks. API gateways can throttle usage to limit who pulls data when and how often. And API management security features help prevent unauthorized access. 1 Save money. Traditional integration is expensive. Modern integration with APIs reduces development and maintenance costs right away, and helps you build the IT infrastructure you'll need for now and in the future. 5 Embrace insuretech. APIs provide the flexibility and agility to enhance and extend the reach of your solutions by connecting with an extensive ecosystem of external capabilities, data, partners, and even insuretech competitors. 6 Make money. Monetize your APIs, use them to create new usage-based product, or build a white-label Insurance-as-a-Service platform.

Articles in this issue

Links on this page

view archives of RL - Insurance - 6 reasons to use APIs in digital insurance