(Image source: Global IQX homepage.)
Global IQX (Ottawa, Ontario) has published configurable integration modules using an open web-service API to streamline integration for insurers throughout the employee benefits industry. The vendor says that the API, developed to meet user demand for new levels of data management and configurability, will significantly enhance integration between the Global IQX Sales and Underwriting Workbench and other core systems and applications.
The vendor reports that the latest release also offers a suite of preconfigured “exchanger” modules for integration with CRM, policy administration system, claims, payroll, archive and third-parties to streamline and automate business processes across heterogeneous systems.
“Our clients can now integrate with existing systems, portals, and insurance exchanges,” comments Cristian Marcov, technical architect, Global IQX. “Carriers can set up and maintain a simple yet flexible API, integrating systems using JSON or XML to utilize data across their organization.”
Global IQX says the API pushes/pulls and schedules data through real-time or batch processing with its production-tested APIs. “Easily configurable for new and custom-built applications using open REST/SOAP frameworks, when aligned with business strategies, these tools present opportunities to extract value from customer and system data,” a vendor statement says.
Value of Open APIs in the Insurance Technology Ecosystem
“Recent Celent research has highlighted the value of open APIs throughout the technology ecosystem of insurers,” comments Tom Scales, head of the Celent’s (Boston) life and health research in the Americas. “It is encouraging to see vendors opening up their technology through published, documented APIs.”
Group insurance companies are using best-of-breed technology solutions that require quick plug and play solutions with other systems, Global IQX’s Marcov adds. “Global IQX has been bringing web services to its clients since 2007. These API and exchanger initiatives will automate this process enabling new partnerships and enhanced solutions for IQX clients and their data.”