The problem: Providing good insurance advice is complex

Despite the internet, the demand for personal advice on insurance products remains high. Many insurance products are complex and customers need help to understand them. In addition, many customers do not have an overview of their existing insurance contracts. As a result customers are often over- or underinsured given their personal situation. finAPI offers support with the Smart Sales Advisor, helping you to give customers better advice and optimize their insurance situation.

The solution: Smart sales advice thanks to bank account analysis

finAPI analyzes account data on behalf of and with approval of the customer. Our software looks at transactions to automatically recognize insurance contracts and potentially insurance-relevant changes, so-called “life-changing events”. If customers share this information with their insurance advisors, they can benefit from tailored individual advice and optimize their insurance policies. These special account analysis functions for the insurance industry benefit companies and customers, and make it easier for insurance companies to provide customers with the best possible advice. We call this “Smart Sales Advisor”.

API analysis for the detection of insurance contracts

Our account analysis reliably identifies existing and new insurance contracts. This information is extremely valuable for insurance companies. They can use it to create individual insurance offers tailored to the customer, based on his or her current insurance situation. For other industries, finAPI offers additional contract detection, such as credit, electricity, gas, or telecommunications. 

API analysis for the detection of life-changing events

Using our special account analysis, you can detect important events and changes in a client’s life via his or her account transactions. For example, if someone starts to receive child benefit, it is a good idea to discuss various insurance policies to protect the child and the family. Other life-changing events can be easily identified and may require adjustment of insurance cover include change of job or acquisition of property.

Additional cash flow and risk analyses

Further account analyses can be added depending on the application you are developing. Our Data Intelligence module offers additional cash flow analysis functions to determine revenues and expenses, as well as risk analyses to examine various risk factors.

Identification of new customers at the conclusion of the contract

In accordance with anti-money laundering laws insurance companies, banks, financial service providers and tax consultants are obliged to identify their customers. In a face-to-face meeting, you can ask to see an identity card. An online the identity check can be done securely and conveniently via the bank account using finAPI GiroIdent.