After identification of a good API, it is now the task of an insurer to apply those techniques and methods to insurance. This process is generic and not related to any specific insurer firm. In this post, we are going to identify some of the important APIs that are specific to your business and will prove to be beneficial.
Mobile Application Development
This insurance technology will help insurance agencies to develop their mobile applications for their customers. This API comprises of other three areas that are as follows:
• General information
This information includes insurance offerings such as office or agent locations, coverage types, tools and insurance calculators.
• Customized information and transactions
This information as well as transactions are custom-made to those customers who use the application. To implement these APIs, it is important to make arrangements of additional level of security. This ensures appropriate access to them.
APIs that will work in this category include – payment of bill, review discounts and coverage, insurance ID cards, view policy, contact your agent, view or update profile, accident information collection and documentation, submission of accidental / hospitalization or death claim, seek assistance or roadside service, check about claim status. For life insurance policy, all information pertaining to beneficiary, payments, etc. can be transacted or displayed.
• Mobile advantages
Customers who use the application on their cell phone can take benefit of features of their phone along with a wide range of APIs made available by the accident insurance form. Some of the functionalities offered by the device are its camera, GPS services, date and time, and microphone functions.
A policyholder can even use camera feature of mobile phone to capture pictures of damages. This feature comes to as a great help in case of home insurance where policyholders can click photos of all their belongings that have got damaged.
There is another functionality called the GPS functionality in mobile phones that will help to recognize the location. The date/time feature will time stamp the information automatically. Voice recording can even be used to capture information obtained from witnesses.
Partnering is another important advantage that is provided by the APIs. These help a business to make it easier to perform business with an insurance company. Providing APIs to your partners would enable them to provide your insurance schemes to their customers. Some of the good examples are to partner with credit unions members and employers and provide your API to them.
These partnering firms will then provide your insurance products to their customers and employees. In this way, insurance business can reach to a wider set of audience. This will help in expanding customer base and increase the chances of sale of an insurance product.
Most of the same APIs are used with partners or with internally as public APIs. This is done to drive additional level of business and assist in obtaining new customers.
All these API’s prove to be very significant for the expansion and profitability of a business.
For more details about Insurance Digital Partnership visit our website: https://ancileo.com/