Howden and Allianz Trade partner on API connectivity

Case Study

Published

05 October 2022

Howden and Allianz Trade announce their API partnership for structured credit insurance, Howden’s second API partnership in the sector this quarter. This partnership reflects the rapidly developing landscape of the structured credit insurance market, which is quickly digitising to better serve institutional clients. 

APIs (Application Programming Interfaces) are efficient data-sharing protocols that integrate data formats and languages from different organisations, cutting costs by removing the need to reconcile or manually adjust data between connecting parties. The HowdenCAP-Allianz Trade collaboration allows Howden clients and their broking team to obtain offers and execute business from across the structured credit risk market, delivering a fast, data-driven method of trading and placement of insurance.

Paul Hiller – Managing Director of Howden’s xTrade platform, said: “This is yet another example of leveraging Howden’s systematic capture of structured data to drive a more efficient data-led operating model in our market. This collaboration with our friends at Allianz Trade further demonstrates the viability of an API-connected marketplace and positions Howden as the most technologically advanced broker to work with.”

Under the partnership, Allianz Trade have successfully utilised Howden’s API, and with it successfully tested the integration of Howden’s placement application TepfinX with Allianz Trade Specialty Credit’s deal management and underwriting platform. This allows Howden’s submissions to be submitted to Allianz Trade digitally, bringing efficiency, enhanced data accuracy, reliability and analytics, faster response times, and simplification - all of which are beneficial for a seamless broker-underwriter relationship and improved customer service.

Oliver Bowes – Executive Director at HowdenCAP: “Our second API in as many months illustrates our continued drive for market integration and heightened efficiency. We are truly delighted to reach this milestone with Allianz Trade and now we look forward to welcoming our third integrated Insurer very soon!”

This is another significant milestone ahead of other credit and political risks insurance market digitisation initiatives in electronic placement platforms. It also illustrates a key next step that the market can take towards systems integration and interoperability between insurers and brokers.

Thomas Laporte-Many – Head of Operations and Innovation at Allianz Trade Specialty Credit, said: “We have been transacting on TepfinX and supporting its development for several years now. Given Howden and Allianz Trade’s shared ambition to contribute to the market digitisation, we naturally decided to join forces to test API-based integration of our respective platforms. By contributing to the development of this API, and by successfully testing its integration with our deal management and underwriting platform, we have made a significant step in our digital journey. Like for Howden, this is a second success for us; whilst we had test proven API-based integration last year, it is the first direct API-based integration with a broker’s proprietary electronic placement platform.”

Howden is the only broker in the London structured credit insurance market to have direct APIs with insurers, bringing clients a unique insurance offering via their structured credit application Tepfin X.

Jay Hopkins – Divisional Director at HowdenCAP: “The development of this connectivity with Allianz Trade underpins our strategic plans to grow via the technological innovation. Allianz Trade is a key player in the credit insurance space and we are extremely excited to have them connect with our API. We hope to continue to partner on many more innovative projects in the future.”