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Architecting The Next Generation Of IAG Services
Retail banks are changing the way they interact with consumers, many of them resell IAG insurance products. Practiv lead delivery of IAG's 'Bank Digital' APIs that retail banks now use to quote insurance to their customers.
IAG has a long history of acquisitions. That means dozens of products and software platforms to be rationalised over time. At the same time the company has to maintain its market leadership, and meet the changing demands of customers and consumers with a strong Digital Transformation programme.
Practiv architects work inside IAG to transform the business in a number of ways, from deprecating and re-platforming old products, to defining APIs for the future, particularly to facilitate insurance quoting to retail banks.
There has been a strong shift from paper forms and branches, or even insurers building websites on behalf of banks, to exposing APIs and letting banks build their own consumer interfaces.
The future state of the APIs will likely be a product-lifecycle approach that allows full flexibility in defining and quoting products, updates and changes to policies, while rationalising a number of disparate systems into one.
