India’s first Open API Gateway for Insurance products launched by Edelweiss General Insurance

Edelweiss General Insurance (EGI), India’s first cloud-native insurer, has launched a first of its kind, Open API (Application Programming Interface) Gateway, to facilitate complete digital collaboration with its business partners. With this Gateway, EGI’s authorized partners can easily integrate their systems with the company’s robust technology platform, which will help further reinforce EGI’s linkages with both customers and partners.
 
Not only would this enable EGI’s distributors to speedily integrate available and new products and services, but also significantly lower the cost of integration and retrieve information such as product premium, policy details etc., in real-time, which would help in reducing turn-around time for customers. The Open API Gateway is also aimed to bring in a seamless and delightful experience to the end consumer. The integration will create more choices for the consumer and will also offer much better experience with regards to policy purchase, post issuance needs such as policy information updates, and claims.
 
Commenting on the development, Shanai Ghosh ED & CEO, Edelweiss General Insurance, said, “APIs have become an essential element in today’s digital economy and are rapidly transforming the way we work. Our Open API Gateway is aimed to make API consumption easy in a self-assisted manner. It is our endeavour to strengthen digital capabilities of our partners, in a simple and effortless manner. We have provided a robust and comprehensive documentation of APIs, including example code samples, so our partners can get started within a matter of minutes with an easy sign-up process.”
 
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The Open API Gateway system allows partners to access documentation of the open APIs, leverage code samples, easily conduct testing in staging as well as on environment. With productivity for developers improving enormously, they can now focus on the unique proposition of their applications while outsourcing all the commodity functionality to APIs. The Open API Gateway will also offer quicker integration with EGI products with a shortened integration cycle, both time and cost wise, access to real-time information on product premium, etc. without having to rely on an offline mechanism.
 
EGI has aimed to provide insight based, simple and innovative solutions that provide tangible value to customers. Leveraging technology to meet evolving needs of consumers has always been the endeavour. It recently launched SWITCH, an on-demand, app-based motor product that offers savings and convenience together to consumers. Likewise, in the health space, EGI has a very unique product, Health 241, a first in the industry where if the first year is claim free, the customer is covered absolutely free for the second year.