DataBraid 2024 - Year-End Product Update
Dec 19, 2024
Anurag Kamasamudram - CTO
Data Orchestration for Insurance - Getting Started
As we wrap up an incredible 2024 at Databraid, I wanted to share some key milestones in our mission to modernize insurance infrastructure. Our focus has been laser-sharp: solving the data fragmentation and connectivity problems that plague the insurance industry.
For insurance brokers, the manual process of servicing insurance policies has long been a pain point in our industry. In the last few months, DataBraid took this data orchestration challenge head-on by developing our core API that seamlessly connects Canadian carriers and brokers in the personal auto insurance market. Since brokers spend upwards of 75% of their time servicing existing policies rather than acquiring new customers, we focused on streamlining the most common servicing requests that brokers handle daily. No more rekeying data across multiple systems – we're bringing efficiency to what has traditionally been a time-consuming and error prone process.
But we didn't stop there. Last week, we launched our billing API and introduced a broker-friendly widget that seamlessly integrates into existing workflows. Integration requires just one line of code, connecting brokers and eventually their customers to all carriers with a unified user experience. Our PCI-compliant solution ensures seamless integration, security and ease of use.
The Road Ahead
We're doubling down on what DataBraid does best: solving the data orchestration challenge in insurance. Think of us as the central nervous system connecting insurance brokers with all their essential data sources. Whether it's “intelligently” pulling MVR reports, extracting, mapping and seamlessly delivering information for service requests, integrating with BMS systems, or connecting with payment infrastructure like Moneris and Stripe. We're building the connective tissue that makes insurance operations smoother and more efficient.
We're also building integrations with IBC databases and other essential data sources. Our goal remains clear: automate data gathering, extraction, and enrichment at the click of a button, letting brokers focus on what they do best – building their customer relationships and growing their book of business.
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