CSIO releases new JSON API standards
The Centre for Study of Insurance Operations (CSIO) has announced the publication of application programming interface (API) standards in JavaScript object notation (JSON) to facilitate real-time quote and bind capabilities for four lines of business, namely personal automobile, habitational, individually rated commercial automobile (IRCA), and commercial general liability (CGL).
Developed by CSIO’s Innovation and Emerging Technology (INNOTECH) advisory committee and API working groups, the standards can be incorporated into the systems used by insurers and vendors to enable brokers to quote and bind multiple lines of business directly from their broker management system (BMS).
JSON technology was used to build programmable schemas for the new API standards since it allows condensed sets of data to move between systems more efficiently than before, according to a press release from CSIO.
With these JSON API schemas, brokers no longer need to manually enter information into individual insurers’ systems to obtain quotes. Instead, they can receive quotes from all their insurer partners as soon as the request is submitted, and bind new business in real-time directly from their BMS.
This will make the broker process more efficient and enhance the experience for insurance customers, the CSIO release added.
