At TowerIQ, our vision is to create an end to end digital experience for client policyholders that spans agencies, carriers, MGAs, and re-insurers. We are excited to announce we’ve taken a big step with the availability of new API and Webhooks capabilities as a part of the TowerIQ platform. Both of these capabilities make it easier for brokers, carriers, or reinsurers to connect to a growing ecosystem of specialized cloud and on premise technologies. Connecting to this ecosystem is table stakes for building a transparent, engaging, end to end digital experience to service your clients.
TowerIQ API Key
Most SaaS vendors in our space stop short of this vision, because they don’t normalize data and thus the legacy systems API can’t communicate seamlessly with their data collection front end. So while they can collect the exposure data, they struggle to transmit it in the carriers legacy system language. This limits the ability to turn a quote around instantly since rather than plugging it directly into a ratings system, the carrier needs to process, normalize, and cleanse the data first which causes delays and a less engaging customer experience. It also limits the interesting ways you can run analytics on the data to find new, interesting sales or product opportunities.
Connections to different heterogeneous systems is required to create a seamless client experience and can become overwhelming. Operations and business analysts are constantly looking for ways to streamline tasks and automate workflows across these systems without putting in hours upon hours of coding time. Both webhooks and APIs facilitate the syncing and relaying data between these core applications or systems.
In the simplest terms, APIs allow application builders to build integrations that create, edit, delete records when given a specific set of instructions. An API is a way for applications and platforms to connect with other applications and platforms. For an API to work there’s a request for data, followed by a response to that request. The data is usually delivered in a format such as JSON. This allows systems to synchronously expose web services and move data bi-directionally.
On the other hand Webhooks create asynchronous automated calls between applications that trigger a specific action to take place such as automatically sending a welcome email notification once a new client or account has been entered into the system. TowerIQ Webhooks is a native integration and automation capability that enables TowerIQ to notify, in real time, a cloud application or web-enabled on-premise system about changes in TowerIQ data. Business analysts can quickly build trigger-based integrations to share data and automate workflows between TowerIQ and other cloud applications. You can also create custom business logic to automatically hide sections for forms to reduce manual tasks.
When a record in the TowerIQ platform is changed, added or deleted, Webhooks notifies other core systems such as a Carrier’s AMS system, to initiate an action or response. If a broker wants to create an automated workflow to reduce E&O and manual rekeying, TowerIQ Webhooks acts like a team of robot digital assistants sending and tracking data in an automated way. For example, when a client is onboarded, an email is immediately generated and sent to the client. Once complete, a policy can be instantly delivered from the insurer and all parties will be notified. If your client has onboarding or setup complications out of the gate, customer success can be alerted for faster response and resolution.
There are countless benefits of integration and automation using the TowerIQ API and Webhooks capabilities for brokers and carriers including:
- Agent Agility: Aggregate information that help enhance the client experience, improve margins, and identify new product opportunities.
- Real Time Data Insights: Exposure, Appetite, and Placement data is always up to date.
- Improved Operational Efficiencies: Reduce manual data entry by prefilling data and automate client communications with automated notifications.
- Pre-Built Connections to a Marketplace: Quickly evolve the application process to leverage more integrations to CRM, Marketing Automation, Payments, or Proposal systems for a differentiated end to end digital experience for their clients.
If you are an agency that experiences challenges collecting and integrating your unstructured data with AMS systems, underwriting platforms, or connecting with CRM systems please contact us for an assessment of your application