For press release | August, 1, 2016 | 9am, BST
INSTANDA has announced the launch of a new dynamic API framework which will enable insurance business users to create and maintain external APIs for all products hosted in INSTANDA, without the need for any developer input — dramatically reducing the cost, effort, and impact of technology change.
More than ever before, the industry needs real-time data exchange, consumer self-service, and dynamic user-defined data models. Having designed an insurance technology platform on these principles, INSTANDA has now applied that same thinking to the APIs themselves.
APIs, or application programming interfaces, are essentially software protocols which enable different software platforms to communicate with each other using a common language. Traditionally these protocols needed to be monitored and manually kept in sync. As businesses scale, this can become a significant drain on developer resources and a barrier to change.
Built upon the Microsoft Azure preferred interface definition language, Swagger, INSTANDA’s new API framework removes the need for manual intervention by automating the entire API interface change, with no need for technical input.
This represents a significant step-change for technology in the insurance sector. At a time when analysts predict companies will move away from huge monolithic systems to a broader ecosystem of best-of-breed cloud-based platforms, sharing valuable data and services to innovate and provide better customer experience, dynamic APIs such as INSTANDA’s will accelerate the case for change and dramatically reduce the cost and effort of setting up such ecosystems.
“We are hugely excited by the launch of our API framework,” said INSTANDA COO, Derek Hill. “By working closely with and aligning ourselves with Microsoft technologists, our clients are able to quickly benefit from the latest innovations.”
“The technology industry is evolving rapidly to migrate away from on-premises IT capability to a more flexible cloud-based model,” said Warwick Hill, CEO-in-Residence and MD Microsoft Accelerator London. “Creating a dynamic API framework layer which is aligned to the Microsoft Azure ecosystem can increase that flexibility. INSTANDA partners can now interact with third-party software in the cloud quickly and seamlessly while improving performance across their businesses.”
INSTANDA is a SaaS-based management tool that empowers insurers, brokers and MGAs to build and launch any type or number of insurance products within unprecedented timescales, and then distribute and self-manage it online and on a global basis.
The INSTANDA insurance software is specifically designed to enable business users, not developers, to manage product attributes including ratings, wording and documents and to orchestrate distribution whether direct to consumer (D2C) or via agent/broker networks.
With INSTANDA, organisations can
- Say yes to market opportunities; respond to customer needs, and introduce new products or optimised experiences within weeks.
- Utilise the self-service design to take control for product management and distribution back into your hands. Make product changes in minutes.
- Dramatically reduce the cost of product distribution and remove the constraints of high-cost growth.
- Benefit from a commercial and contracting model completely aligned to business success.
- Easily integrate or add this high impact enabler into your current set-up without detracting effort from business operations.
For more information:
Marketing & Client Relationship Manager
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