CSIO’s INNOTECH API Working Groups Take Milestone to Finalize API JSON Standards for Personal Car and Personal Property Insurance Policy Investigation
To determine which industry hotspots to prioritize, the INNOTECH advisory committee shortlisted three issues, one being to standardize APIs to fill a gap that exists in real-time data exchange between brokers’ systems and insurers. Today, information is not readily available in a broker’s Broker Management System (BMS). Brokers have to manage different processes between insurers and access customer policy information through an insurer’s portal or call the insurer. It takes time and results in a less than stellar customer experience.
INNOTECH API Working Groups, made up of the industry’s top talent from insurers, providers and brokers, focused on standardizing industry APIs to enable brokers to have timely access. real to policy level information in their BMS. By developing and publishing API standards in JSON format, insurers and providers can program standards into their systems so that brokers can access the information needed for auto and property insurance policy claims in real time. Early next year, CSIO will publish the use case diagrams and API standards that the working groups have developed on the policy application for Individually Priced Commercial Automobile Insurance (IRCA) policies and commercial civil liability (CGL).
“Consumers are used to receiving real-time information when making purchasing decisions, and they expect the same experience with their P&C insurance policies,” said Derek Oke, senior manager , Solutions Architecture, Travelers Canada. “As a member of the INNOTECH Advisory Board, I am delighted to see the digital API solutions we have proposed come to fruition. Standardizing APIs in JSON format allows insurers and member vendors to structure their data in an agreed format, resulting in faster and more efficient transactions for brokers and an improved digital experience for clients.
Insurers and supplier members can access the final version of the API standards and the implementation guide at csio.com.
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About the Center for the Study of Insurance Operations (CSIO)
CSIO is the Canadian industry association of P&C insurers, service providers and over 38,000 brokers. CSIO is committed to improving the consumer’s ease of doing business within the broker channel by overseeing the development, implementation and maintenance of standards and technology solutions such as My Proof of Insurance, eDocs and eSignatures. In addition, CSIO operates the industry-owned messaging network service, CSIOnet. CSIO has offices in Toronto and Montreal. For more information, visit csio.com.
For more information, please contact:
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