Data exchange and integration with third-party partners are crucial parts of any modern insurance company. By leveraging Rapid to create a searchable API marketplace where you and your partners can exchange and collaborate on next-gen APIs, your organization can generate multiple new revenue streams and sharpen your competitive edge.

Drive Revenue

Your newest API might be just what your partners need to streamline their operations, elevate their services, and deliver next-gen products. Through Rapid’s API marketplace, insurance companies can charge for APIs that facilitate claims processing, risk assessment, fraud detection, custom-tailored offers, point-of-sale embedding, and enhanced customer service, as well as compliance and regulatory services to navigate strict, ever-evolving regulations.

Why a Sound
API Strategy Is Critical for
Insurance Companies

From the rise of insurtech startups to supporting digital innovation for existing channel partners to giving customers the best possible experience, integration is not a nice-to-have, but a necessity. To keep pace, insurance companies are leveraging APIs to power their modernization efforts. Using APIs, insurance companies can build applications that leverage third-party offerings – providing customers with more integrated and innovative services. Additionally, initiatives such as “Open Insurance” are gaining traction among insurance providers who want to create an ecosystem that enables them to share data through APIs.

Empowering Developers in
Insurance

Give your developers a standardized, easy way to make their APIs available to other developers and partners. Provide complete and instant visibility into usage and quality. Empower them to engage directly with the consumers of their APIs for instant feedback and easier support.