Application programming interface and artificial intelligence programs are fast-moving trends for voluntary carriers
Virtually every voluntary carrier surveyed in a new Eastbridge Consulting Group study is using application processing interface technology or plans to in the near future.
The Application Programming Interface and Artificial Intelligence Carrier Practices Frontline™ Report shows almost two-thirds of carriers support API data exchange. Most carriers not already using this technology plan to have the capability in the next six to 12 months, and several others will add it within two to three years.
“Most voluntary carriers we surveyed say API technology has improved their operational efficiency, from increasing speeds for underwriting, proposal generation and account set-up to improved data accuracy and streamlined enrollments,” said Ginger Bates, Eastbridge director of research. “Carriers not adopting or moving toward this technology soon may find themselves missing out on a competitive differentiator.”
The Application Programming Interface and Artificial Intelligence Carrier Practices Frontline™ Report explores the API and AI practices of carriers in the voluntary/worksite market, including how carriers are using this technology, market differentiators and obstacles carriers experience, and future trends they expect. The data includes responses from 28 carriers collected in October and November 2023.
Other key findings in the report include:
Application Programming Interface and Artificial Intelligence Carrier Practices, a Frontline™ Report
This report is available to members of Eastbridge’s Information Partner™ program and sponsors. Information about subscribing to the Information Partner™ program is available on Eastbridge’s website, by emailing [email protected] or call (860) 676-9633.
About Eastbridge Consulting Group — is a marketing advisory firm serving companies focused on the voluntary/worksite benefits market in the United States and Canada. Follow Eastbridge on LinkedIn.