Critical Questions To Ask When Choosing An API For Insurance Business

Posted by Bridge netins on December 3rd, 2019

There's no denying the fact that API solutions have contributed to a major insurance industry transformation by offering the insurance industry a way into the digital revolution that has spread across consumers' lives while maximizing operational efficiency as well as productivity. Application programming interfaces, or APIs, essentially enables connecting different IT systems or applications and allowing them to use each other's functionality. Furthermore, insurance companies are now adopting APIs to enhance digital capabilities and provide a better customer experience. However, while you can find a plethora of companies offering the best APIs for developing insurance apps in 2019, choosing the right one can be a daunting task.

Furthermore, for any particular task, you can easily find multiple competing APIs that use different approaches and offer varying levels of documentation as well as support- all of which you should take into account when selecting which API to use. Read on to find out some critical questions to ask when choosing an API for insurance business.

1. Is the API documentation publically available? When it comes to choosing an API for insurance business, make sure you find out whether the API documentation is publically available. Furthermore, if a technologist is ready to publish their interface to the world, this shows confidence that the interface works, and that they are trying to encourage people to use it. On the other hand, if the API documentation is hidden behind partner logins and NDAs, this shows the supplier anticipates a higher level of handholding and explanation. Which means more work on your part.

2. What is the API uptime and error rate? Before choosing an API for insurance business, make sure you ask what their API uptime and error rate is, and when their maintenance hours are. Generally, uptime should be upwards of 99.99%; however, what matters more is how it will affect your operation and productivity. 

3. What is the price? Without a doubt, a crucial factor that you need to take into consideration when choosing an API for insurance business is the pricing.

4. Is there any limitation on the number of calls? Another major factor that you need to take into account when choosing an API for insurance business is finding out whether there are any limitations the vendor has in the number of calls per hour, per day, per week, etc. Furthermore, if you are not with a scalable vendor, your growth will be limited by the customer.

While these were some of the questions to ask when choosing an API for insurance business, there are many others, such as community and support, quality, data privacy among many others. Besides, while you can find numerous companies offering the best APIs for developing insurance apps in 2019, make sure you keep in mind the above-mentioned tips and tricks for making an informed decision. However, it is vital that you choose a reputable third-party API provider. One of the recommended ones is BridgeNet Insurance. They offer a broad range of APIs for insurance businesses and their APIs enable you to generate new income while providing your customers meaningful savings on insurance, no matter your industry. You can visit their website at bridgenetins.com.