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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.