Working Group for Standard API in Insurance Agency Channel
The Life insurance industry, especially agent channels, need to link systems and services using APIs in order to further improve operational efficiency and customer satisfaction.
However, if each insurer implements the API individually, there will be too many APIs with similar functions, which will increase the burden for users and insurers.
Standard API for the operations with high priority due to the needs of insurance agents and the difficulty of standardization, such as: contract inquiry service, inquiry service for cancellation refunds or application progress inquiry service.
NTT DATA Corporation has established a "Standard API for Insurance Agency Channels" working group with several Life insurers. The group published drafts specifications of standard API.
RESULTS / BENEFITS
The standard API will enable insurers to provide information more easily and timely and also will contribute to the enhancement of services and the promotion of digitization throughout in the industry.
The group has been improving customer convenience and the efficiency of insurance agency operations by standardization of a wider range of operations.