Instant Quoting and Binding Through Insurance APIs / Comparative Raters?

Discussion in 'General Insurance Agent Discussions' started by zackwithak, Feb 3, 2015.

Tags:
  1. zackwithak
    Offline

    zackwithak New Member

    Posts:
    1
    Likes Received:
    0
    Hello, I'm trying to figure out if there is a way for me to offer instant quoting and binding for personal lines products on my agency website, similar to how it's done directly on the GEICO / State Farm / Travelers / etc. websites.

    Do any carriers offer access to their APIs for agents to directly pull quotes from their systems? Do any comparative raters offer instant quoting? I've seen 3-5 minutes from EZLynx but was wondering if anyone can do it faster. Also, is online binding possible, either through an API or a comparative rater?

    If it matters, we're only trying to quote and bind policies from one carrier, so we wouldn't need to pull a wide range of quotes.

    Thanks!
     
  2. djs
    Offline

    djs Super Moderator Moderator

    Posts:
    6,610
    Likes Received:
    12
    State:
    California
    Technologically, it isn't that hard. I doubt the carrier will allow you to do this though. A few nonstandard carriers might.

    Call the carrier that you want to do this with and if they allow it, then it wouldn't be hard to design the interface to make it happen.

    That said, a lot of quoting systems have this ability, but its not customer facing or it just preloads the info and you have to log into the carrier and actually bind it. Just depends how the carrier works and what risks they want to expose themselves to.

    Dan
     
  3. agentinsouth
    Offline

    agentinsouth Well-Known Member

    Posts:
    649
    Likes Received:
    0
    Sounds like an E&O claim waiting to happen
     
  4. KBush
    Offline

    KBush New Member

    Posts:
    1
    Likes Received:
    0
    State:
    Alabama
    I haven't seen much of a demand for that sort of thing. Most of the API connections I have dealt with from a carrier side are there because the agency has built their own comp rater. There is still a general ACORD XML connection that is made so it isn't a fully functioning API with a UI involved. The agency would still need to minimally build out some web scripting or screen scraping.
     

Share This Page