APIs

Why The Love For APIs, You Ask?

Lets take a step back and understand why we exist? Our distribution partners find navigating the supply side of the insurance industry chaotic. They need a single solution that masks all the complexities, centralise risks across product/tech/ops/compliance and help personalise insurance experience for their end customers, by channel of engagement. All of this while providing for speed of implementation. Phew!

Fortunately, the answer to all of the above, is APIs.

As Distribution Partners, you can use our modular, product-specific APIs to quickly digitise your insurance business for the Indian market. Integrate and go live in a matter of days.

APIs are at the core of Riskcovry’s “insurance in a box” model which drives both partner adoption of the platform technology as well as our own Insur+Tech product roadmap.

Riskcovry is an API-first SaaS InsurTech Platform Riskcovry is an API-first SaaS InsurTech Platform
Riskcovry is an API-first SaaS InsurTech Platform

Riskcovry is an API-first SaaS InsurTech Platform

Riskcovry enables any consumer business to facilitate insurance use cases (buy, manage, claims) seamlessly and holistically.
Consumer businesses range from Banks, NBFCs, Incumbent Insurance Distributors, FinTech, etc and Retail industries who have acquired consumer trust and want to introduce personalised, on-demand, and connected insurance experience.
In order to cover for risks arising out of commercial interactions with the consumers.

Key Highlights of Riskcovry APIs

  1. Pure-play API platform where both sides of the platform – the distribution/business partner and the insurance carrier/underwriter connected via APIs.
  2. A distribution/business partner can plugin a workflow for an insurance purchase leading to policy management and claims, across any channel (assisted via in-store/branch; DIY or Bundled via web, app, etc; other as relevant), via APIs.
  3. Insurance carriers partnering with us can provide ‘inside the box’ logic which needs no APIs OR provide the necessary APIs for premium calculation and policy issuance. Our platform is flexible to accommodate both. 
  1. Once a partner gets into a contract with Riskcovry, then the partner can register all their multi-channel/hierarchy agents/staff into the platform via admin module configuration. This enables the distribution partner to allow insurance purchases through their own website/app/PoS device, with an assisted or DIY or bundled experience, all powered by Riskcovry’s tech and APIs.
  2. Riskcovry has all the basic APIs necessary to facilitate complete insurance life-cycle experience to a business partners’ end consumers.  This includes customer onboarding/ registration, quotation search, policy purchase, issuance of policy certificate (COI) as PDF, policy management like storage of policies in a wallet, policy dashboard and finally claims form generation and submission.
  1. Smart document ‘detection’ APIs using AI/ML, beginning with RC Card AI (for motor insurance), hospital discharge summary and claims NEFT form AI-based APIs (for health insurance use cases)
  2. Claims APIs Suite.
  1. Claims APIs Suite
    Product agnostic claims functionality available via APIs to be plugged on any digital interface like Web, App, Whatsapp, etc, starting off with Health Insurance Claims
  2. Content APIs
    Now render content from any language (global, national, regional) via a set of APIs. If your content is ready, we can enable your regional language content in a matter of a few hours, without having to change front end user journey.
  3. Payments
    Enable multi-payments model based on your compliance and internal policy mandates – use the insurer’s PG, Riskcovry Payment Partners’ PG or your own. All simple configurations in our back end.
  4. SDK
    Avail our complete tech suite, including the front-end screens, via SDK that works across platforms
  5. Master API Wrapper
    Imagine bridging the entire InsurTech ecosystem with the distribution community. As an ecosystem player, we strongly believe in “don’t build first, partner best”. For specific OTT and integratable features, we would like to enable “best of breed” tech capabilities across our extended technology partner network, all contextualised via Riskcovry APIs, to enable seamless capability extension without manual re-engineering effort. Regardless of whether you want to consume our APIs or contribute to the API store (coming soon), we would love to talk to discuss win-win synergies.
  6. IRDA Sandbox Application
    We are working closely with the IRDA Sandbox Professionals/Teams to enable further ecosystem plays, that have an API-first use case. Like us on our LinkedIn page to hear further developments!

Your One Technology Platform To Serve All Insurance Needs