HowdenCAP and Mosaic are teaming up to integrate their technology platforms.
The former, a division of broker firm Howden, will work with the specialty carrier to ‘drive efficiency and speed of risk placement’ in the structured credit insurance market. A statement from the two firms said that team-up will be the first direct insurer-broker application programming interface (API) in the sector.
Oliver Bowes, executive director of HowdenCAP – Global Credit Solutions, said: “This is an extremely exciting development in the Tepfin X journey, and we are delighted to have achieved this significant milestone with Mosaic. It is very apparent that the structured credit market is becoming severely fragmented, creating huge inefficiencies for insurers. APIs are a key tool to negate this issue and this is the first step for us in creating an end-to-end ecosystem that will be of great benefit to our clients in the long run. Now we are API-proven, we are taking this opportunity to invite all insurers and clients (and brokers) to come and integrate with Tepfin X—we are ready!”
HowdenCAP ’s Tepfin X structured credit insurance placement system connects with Mosaic’s API Gateway via the specialty carrier’s award-winning insurtech platform, enabling structured data to be easily exchanged and processed for submissions intake and triage.
HowdenCAP’s Tepfin X API connects outwardly to any API-ready structured credit broking, client or insurer system. Mosaic’s API Gateway is integrated with several data augmentation and risk evaluation services, and can be used by all brokers, reinsurers, and other partners with whom Mosaic works.
Tepfin X was developed in-house on Howden’s xTrade platform for HowdenCAP’s Global Credit Solutions team. Mosaic is support by Trident International Inc to implement its automated, API Gateway, part of an overall architecture and data platform facilitated through a partnership with DXC Technology. Last month, Mosaic’s platform was recognised for innovating risk management, winning in the data/analytics category of Aite-Novarica Group’s 2022 Insurance Technology Impact Awards.
Source: https://www.reinsurancene.ws/howdencap-and-mosaic-team-up-on-technology/