5 Mistakes To Avoid When Choosing An API For Your Insurance Business

Posted by Bridge netins on December 17th, 2019

It goes without saying, that insurance companies are now adopting APIs to enhance digital capabilities and provide a better customer experience. API, otherwise known as Application Programming Interface, connects IT systems and applications together, allowing them to use one another's functionality. Furthermore, APIs provide quick, efficient access to back-end systems and let you introduce a product without disrupting legacy systems. In addition, utilizing shared data reduces duplicate efforts and speeds time to market. However, while you can find a plethora of companies offering APIs that provides access to quotes for personal car insurance, choosing the right one can be a daunting task.

Even though third-party APIs are powerful and resourceful tools for many insurance businesses, be sure to take caution when choosing your provider. Read on to find out five mistakes to avoid when choosing an API for your insurance business.

1. Not doing proper research- Let's face it, choosing a third-party API without doing any research may not be the brightest idea. Furthermore, before choosing a third-party API, make sure you do an in-depth research. Look into what other companies experience with that provider, and make sure to ask questions about updates, security, uptime and platform reliability.

2. Feature completeness- One of the common mistakes people make when choosing an API for insurance business is not checking whether the API does everything they need it to. Furthermore, don't assume that all similar APIs provide the same calls and processes. Furthermore, know what features are required for you and filter your selection based on that.

3. Not checking the documentation- Documentation is typically your first introduction to the API provider and their effort can tell a lot about your future relationship. Furthermore, before choosing an API for your insurance business, make sure you check how comprehensive the documentation is. In addition, you should also check whether the examples are clear and all the parameters are properly explained.

4. Testing- When your application depends on a third-party API, it should be treated as your very own API. Furthermore, you want to include it in your sprint test plans, make sure it provides the response you need, have a plan for alerting customers when your provider has downtime, and have a backup plan.

5. Support capabilities- Ensuring you get the support you need is an important aspect of choosing your API provider. Furthermore, smaller providers or startups may not offer the amount of robust support that your business needs, so make your pick wisely.

While these were some of the mistakes to avoid when choosing an API for your insurance business, there are many others, such as pricing, data privacy among many others. Besides, while you can find numerous companies offering APIs that provide access to personal car insurance quotes, 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.