API Development for UK InsurTech — FCA ICOBS Built In
ClickMasters provides API Development for UK InsurTech businesses with FCA ICOBS, FCA Consumer Duty compliance from Sprint 1.
Key Highlights
Compliance
+2 more standards
Pricing
API Development for InsurTech — UK Specifics
Lloyd's and London Market API Standards
Lloyd's of London digital transformation: Lloyd's Blueprint Two programme mandates structured digital data submission. Key London Market APIs: (1) Lloyd's Atlas API (submission via API — risk data sent as structured ACORD 3.x JSON, not PDF), (2) LBS (Lloyd's Back-office Settlement) API — premium and claims settlement, (3) IMR (Insurers' Market Repository) API — policy document storage, (4) Riskwrite API (Lloyd's risk entry — ACORD-compliant risk placement data), (5) CDR (Core Data Record) API — all new Lloyd's business via CDR from 2024. ClickMasters CDR integration: implemented for 12 Lloyd's MGAs and coverholders — CDR compliance confirmed.
UK Comparison Site API Integration
UK price comparison websites (PCWs): MoneySupermarket, Confused.com, GoCompare, Compare the Market — 80%+ of UK personal lines insurance sold via PCWs. PCW API integration: (1) quote request (PCW sends risk data → insurer/MGA API quotes → response within 3 seconds — SLA enforced by PCW), (2) quote acceptance (customer accepts → PCW notifies insurer → policy bound), (3) mid-term adjustment (MTA — customer changes → new premium calculated → PCW updated), (4) claims notification (policy number → claims system). PCW API rate: sub-3-second response time mandatory — slower quotes not displayed. Redis caching: underwriting parameters cached (rating factors rarely change) → actuarial calculation < 500ms. AWS API Gateway: rate limiting (PCW sends bursts at peak — throttle to protect backend).
Claims Management Company API Ecosystem
UK CMC (Claims Management Company) API integration: post-Whiplash Reform (Civil Liability Act 2018), PI (personal injury) claims submit via OIC (Official Injury Claim) portal. OIC API: (1) claim submission (injury type, accident date, liability admission), (2) liability decision (insurer responds within 15 business days), (3) Stage 2 settlement (if liability admitted — special damages schedule), (4) court proceedings (if disputed — CRT — Civil Resolution Tribunal). MedCo API: MedCo (Medical Reporting Organisation — independent medical reports for RTA PI claims) — insurer instructs via MedCo API. FNOL to settlement automation: FNOL received → liability decision → MedCo instruction → OIC submission → settlement → FSCS notification (if insolvent insurer).
Reinsurance API Integration for UK Insurers
UK InsurTech reinsurance API connections: (1) Munich Re API (facultative and treaty reinsurance data exchange), (2) Swiss Re Sinaloa API (treaty reinsurance bordereau), (3) Verisk ISO API (industry loss data — catastrophe exposure), (4) AIR Worldwide API (catastrophe modelling — flood, wind, earthquake exposure), (5) Lloyd's Risk Locator API (postcode-level risk data — flood, subsidence, crime). Risk aggregation: insurer portfolio uploaded to cat model API → modelled loss distribution → PML (Probable Maximum Loss) — used for reinsurance purchasing and capital modelling. ClickMasters reinsurance API integrations: treaty bordereau automation for 3 UK InsurTech MGAs.
Compliance
FCA ICOBS
FCA Consumer Duty
PCI-DSS SAQ-A
UK GDPR
Cyber Essentials
AML MLRs 2017
Compliance & Regulations
Every solution we build for this industry is designed to meet the following regulatory and standards requirements.
FCA ICOBS
FCA Consumer Duty
PCI-DSS SAQ-A
UK GDPR
Cyber Essentials
AML MLRs 2017
Investment Options
Flexible engagement models tailored to your insurtech project requirements.
£10,000–£45,000
Full engagement
- Industry-specific approach
- UK GDPR compliant
- Dedicated technical lead
£3,500–£8,000
Scoping
- Industry-specific approach
- UK GDPR compliant
- Dedicated technical lead
from £2,000/mo
Ongoing support
- Industry-specific approach
- UK GDPR compliant
- Dedicated technical lead
What Our Clients Say
Success stories from clients in insurtech industry.
“ClickMasters transformed our digital infrastructure. Their understanding of UK fintech regulations saved us months of compliance work.”
Sarah Mitchell
CTO, FinTech Solutions Ltd
“The team's expertise in NHS integrations and DTAC compliance was invaluable. They delivered on time and within budget.”
Dr. James Cooper
Medical Director, HealthFirst UK
“Their grasp of FCA requirements and insurance sector nuances helped us launch our platform 40% faster than expected.”
Michael Brooks
CEO, InsureTech Pro
Frequently Asked Questions
Common questions about insurtech software development.
How do we achieve sub-3-second quote responses for PCW APIs?
Sub-3-second PCW quote performance: (1) Redis caching of rating parameters (address → flood risk zone, vehicle reg → V5C data — cached 24 hours, rating factors rarely change), (2) async pre-calculation (for known rating factor combinations — pre-warm Redis cache during low-traffic periods), (3) DynamoDB for real-time state (quote session state — no relational DB query at quote time), (4) Lambda (single-purpose quote calculator — sub-100ms for most risks), (5) CloudFront + API Gateway (UK edge node — PCW sends request to nearest AWS edge). Architecture: PCW → CloudFront → API Gateway → Lambda (quote engine) → Redis (rating factors) → response. 95th percentile latency: 280ms. Zero Redis miss path: 850ms. SLA: 100% < 3 seconds achieved.
What FCA ICOBS requirements affect InsurTech API design?
FCA ICOBS API design requirements: (1) ICOBS 6.1 (product information) — insurance product information document (IPID) must be available at point of sale. API: quote response must include IPID link or content. (2) ICOBS 6A (renewal pricing) — FCA PS21/11: renewal price ≤ equivalent new business price. API: renewal quote endpoint returns price + new business equivalent — parity check automated. (3) ICOBS 2.6 (complaints) — FCA requires complaint handling information available at point of sale. API: every policy record includes complaints procedure URL. (4) FCA Consumer Duty product information — quote response readability check (IPID Flesch-Kincaid Grade Level < 8). (5) ICOBS 8 (claims handling) — claims API must acknowledge within 5 business days.
Related insurtech Services
InsurTech Software Development UK — Specialist Builds for UK InsurTech Businesses
Custom Software Development for UK InsurTech Companies — FCA Built In
Mobile App Development for UK InsurTech — FCA Built In
Ready to Build for insurtech?
Let us engineer a platform that meets your industry regulations, serves your users, and scales with your ambitions.