New York City-based insurtech startup CoverWallet announced on Tuesday the launch of its new API for commercial insurance, CoverWallet API. The new API allows developers and businesses to now integrate insurance services and solutions directly into their apps and websites within a matter of minutes.
CoverWallet reported that the API includes three key services covering the full lifecycle of small business insurance:
- insurance estimates
- quotes and policies from leading carriers
- insurance management services for items such as managing policies, certificates, and claims
The company noted that all three functions can be used independently, as pairs, or all together, providing flexibility to fit a number of different scenarios. While sharing more details about the API, Pablo Molina, CTO at CoverWallet, stated:
“We are providing Insurtech as a Service. With our API, anyone can offer business insurance tools and policies so that users don’t need to navigate away from the site or app they are on for their insurance needs. Opening our platform is an important step for CoverWallet, as we carry out our mission to help small businesses get insurance through a seamless, fast, and convenient user experience.”
CoverWallet went on to add:
“Additionally, rather than having to build their own complex integrations with dozens of companies, developers, and businesses benefit from access to CoverWallet’s partnerships with leading insurance carriers. Integrating the CoverWallet API is quick and simple, and there are a number of different scenarios where the API could be leveraged. For example, it could be integrated with commercial real estate companies, financial institutions, payroll service providers, lenders, accounting software providers, and agency management systems. CoverWallet will provide engineering support throughout the full lifecycle of the integration.”