The Open Finance Hub and insurer launch an API on mortgage insurance quotes dedicated to financial institutions.
Photo: CEO Jacques Pütz / Image Credits: LUXHUB
LUXHUB, Europe’s second Open Finance Hub and Bâloise Assurances announced a joint initiative with their Open Insurance API which will be available in the LUXHUB Marketplace. The tool will enable financial institutions to integrate mortgage insurance quotes directly within their core banking systems.
“In concrete terms, Bâloise’s Open Insurance API will enable client banks to embed real-time, tailored mortgage insurance quotes directly into their core banking systems – all in just a few clicks – with access, testing and integration, Bâloise explained in a press release.
Listed within LUXHUB’s Open Finance Marketplace, the Open Insurance API is accessible, with comprehensive commercial and technical documentation to the public.
“We have been convinced about the potential of Open Finance to drive tangible and sizeable impact beyond banking and into the wider financial services sector.”
More transparency for customers
Open insurance provides the access and sharing of insurance-related personal and non-personal data usually via APIs, with the aim to provide more information and transparency for customers, as well as more personalized services.
Like Open Banking, Open Insurance aims to bring value-added services to insurers as well as their partners and end-users, through a better user interface, data customization and more transparent integrations with third-party platforms.
“We have, since our very inception, been convinced about the potential of Open Finance to drive tangible and sizeable impact beyond banking and into the wider financial services sector,” said Jacques Pütz, CEO of LUXHUB. “Our mantra of ‘innovation imposes collaboration’ is again clearly evidenced, and it is a pleasure to form a partnership with a company so committed to pioneering developments in this direction.”
LUXHUB, an initiative of Banque Raiffeisen, BGL BNP Paribas, POST Luxembourg and SPUERKEESS was launched in 2018 with the aim to provide efficient and effective PSD2 compliance products to financial institutions in Luxembourg and Europe. It has since become Europe’s 2nd largest Open Finance Hub.
Part of the Swiss Bâloise Group, Bâloise Assurances Luxembourg, has started operating in the Grand-Duchy in 1890. The company provides insurance solutions to professionals and individuals.
