apidays LIVE London 2021 - Reaching Maximum Potential in Banking & Insurance with API Mindset October 27 & 28, 2021 Insurance and Industries APIs Driving API adoption in Insurance Allan Knabe, CEO & Founder of Apiable.io & Matt Carter, CEO & Founder of Cognitive Risk

1. Driving API adoption
in Insurance
APIdays conference
28th October 2021
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2. Powered by
A bit about Matt
2
• 30+ years working in Insurance or technology
• Operating as the translator, love connecting the dots
• Launched 5 businesses with one growing to 145 staff
and a trade sale exit
• Architected one of the first Lloyd’s Coverholder Quote
and bind platforms
• Curious and imaginative but love productising
(moving products online) and delivering new
technology
• Sweet spot is where INSUR meets TECH

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A bit about Allan
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• CEO & Co-founder of apiable.io
• Aims to make more organisations API Able.
• Provide an API Portal as a Service.
• 20+ years working in IT
• 10 years specifically with APIs
• Recent experience of two Insurance Companies
joining the API Economy

4. New York
JULY
Australia
SEPTEMBER
Singapore
APRIL
Helsinki & North
MARCH
Paris
DECEMBER
London
OCTOBER
Jakarta
FEBRUARY
Hong Kong
AUGUST
JUNE
India
MAY
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5. Powered by
The Insurance Perspective, by Matt

6. Insurers love an acronym
CoR
GWP
IBNR
NEP
SII
eBOT
CDR
TOBA
UMR
eCOT
API

7. APIs in Insurance

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Drive adoption of APIs in Insurance
• Widely used
• Property characteristics data,
• Vehicle Data
• Weather alerts,
• geo location services / asset
tracking
• IOT driving greater adoption
• Data Augmentation in UX
journeys increasing
• Hard to compare APIs and API
providers
• Limited value chain integrations
• Expensive model
• One API one vendor
• Few corporate API portals
The Good The not so good

9. How do we establish APIs as the
building blocks in Insurance?

10. We move from code to context
from programming to product

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Increasing API usage
Discovery
Create a directory that
demonstrates business
context in a language the
business (not just the
developer) understands
and make it searchable
Productise
Treat APIs as products and
apply marketing, branding
and product management
techniques to drive
adoption
API Portals
The insurance industry is
made up of a vast array of
entities developer portals
encourage more
engagement and use of
APIs

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The API Perspective, by Allan

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5 Things to drive API adoption
• API Product Management
• Know who your customer is
• Engage your stakeholders
• Aim for a win
• Give a great UX / DX

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API Product
Management
Is about finding new
products that are desirable,
viable and feasible.

15. Developers,
Developers,
Developers.

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“A customer is someone who pays for
your product. A user does not.”
- Maurya, Ash. Running Lean: Iterate from Plan A to a Plan That
Works

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The developer is
probably not your
target customer.

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Work with your
stakeholders
Is there stakeholder alignment
for your product?
Could you help move your
organization to be API-first?

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How do we present APIs as Products?
Developer eXperience Customer eXperience

20. Introducing
www.riskjunction.com

21. Launching
today to bring
Insurance and
APIs together
Register interest at
www.riskjunction.com

22. Driving API adoption in
Insurance
Q & A

23. Contact for
Matt@cognitiverisk.com
www.linkedin.com/in/mattcarter15
allan.knabe@apiable.io
www.linkedin.com/in/allan-knabe
More information
Reach out to hear more about
riskjunction.com, apiable.io or just what
we see the future of APIs in insurance
looking like
Investing - raising seed capital
Looking to raise seed capital by offering
member participants to both join (and
earn) and own the platform
Have a chat
We just love to find opportunities of
combining INSUR and TECH and what
the future holds for insurance businesses
that truly want to be digital

25. Questions
What made you create a side project like Risk Junction?
As a self proclaimed non developer what interested you about APIs, as they
are quite technical?
What do insurance businesses need to focus on to maximise the benefit APIs
can deliver?
What can API vendors do to gain better traction in the insurance sector?

26. Questions
What motivated you to quit your day job to create a tech-startup?
You mentioned that you’ve been working with a couple of insurance
companies, what common problems do they share?
If established Insurance Companies don’t become “API-first”, what will
happen to them?

27. New York
JULY
Australia
SEPTEMBER
Singapore
APRIL
Helsinki & North
MARCH
Paris
DECEMBER
London
OCTOBER
Jakarta
FEBRUARY
Hong Kong
AUGUST
JUNE
India
MAY
Check out our API Conferences here
50+ events since 2012, 14 countries, 2,000+ speakers, 50,000+ attendees,
300k+ online community
Want to talk at one of our conferences?
Apply to speak here