INNOTECH Committee

Brokers need real-time policy data exchange between insurers and their Broker Management System (BMS). Without that information readily available, brokers need to:

• Deal with different processes across insurers.
• Use third-party systems for quotes.
• Complete the sales process in the insurer’s portal.
• Access client policy information by:
  • Logging into an insurer’s portal, or
  • Calling the insurer, waiting in the queue, asking the insurer to look up information
  • Call the client back.

INNOTECH’s solution will standardize a set of API specifications, enabling insurers to easily implement and structure their data model to give brokers real-time information.

Did you know? API Stands for “Application Programming Interface”. It’s a window into someone’s system. It connects different devices and applications to allow us to do a transaction. A software intermediary allows two applications to talk to each other.

Download CSIO's API Standards here.

Standard APIs require a standard security practice, too. This will authorize and authenticate users.

The INNOTECH Committee is defining requirements for securing information during data exchange between insurers, brokers and vendors using standardized APIs.

The API Security Working Group focuses on mitigating the unique vulnerabilities and security risks of APIs. The team is also looking to define the requirements for a security model. Lastly, they’ll create security implementation guidelines, to smooth the way for API Standards.

This seamless data exchange between insurer and broker systems will pave the way to enable secure real-time functionality, reduce friction and optimize data interoperability.

Download CSIO's API Security Standards here.

Learn more about obtaining CSIO's API Security Standards Certification and becoming an efficient API partner.