The Centre for Study of Insurance Operations (CSIO), an industry technology-focused association of property and casualty insurers, service providers and brokers, announced the creation of new application programming interface (API) standards for deletion of coverage, policy cancellation and creation of first notice of loss use cases. “These use cases cover four lines of business—personal automobile, habitational, individually rated commercial automobile and commercial general liability,” the CSIO states in an announcement.
“Along with the API standards published last year, the path is now clear for insurers and vendors to program standards into their systems for a full lifecycle of customer policy activities for brokers to access in their broker management systems.”
They add that the technology being used (JavaScript Object Notation or JSON) allows condensed sets of data to move between systems more efficiently than before. “Without an industry standard, brokers are left to directly access an insurance company’s portal or contact the insurer via email or telephone, to access customer information, which can take hours,” they write. “Insurers and vendors who program the JSON API schemas into their systems, enable their broker partners to receive information in real time.”
They add that the working group is now meeting monthly to grow the number of standards being published this year. “Next on the agenda for the working group is collaborating to finalize the standards for use cases covering amendment of payment details and getting claim status.”
Related:
Application Programming Interface standards published for broker systems
Standards published for quoting and binding hospitality business
