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BPL Global has partnered with trade credit underwriter Euler Hermes to develop the first ever API-based digital broker-underwriter integration in Credit and Political Risk Insurance (CPRI) – a ground-breaking development for the market.

The move facilitates the digital transfer of enquiry level data between BPL Global’s internal broking system and Euler Hermes’ underwriting system using an API (application programming interface) supplied by digital insurance platform Whitespace.

This collaborative, interoperable approach simplifies the process for brokers placing requests for cover and enables the underwriter to receive such data directly into their own systems, thereby removing the need for a third-party application.

The BPL Global and Euler Hermes integration builds upon other recent CPRI market digitisation initiatives across electronic placement platforms, which do not currently allow for seamless systems-based digital integration between brokers and insurers.

Sian Aspinall, Managing Director at BPL Global, said it was an “important milestone” for CPRI market-wide digital efficiency, adding: “Crucially, it will enhance data accuracy, operational efficiency and client service.”

“It is exciting to share a vision with BPL, to decide to make together a pioneering move in the CPRI market and to see this joint vision become a reality,” commented Thomas Laporte-Many, Head of Development & Innovation for Euler Hermes Transactional Cover.

“The idea that market firms could build their own proprietary systems and trade through Whitespace was always a key part of our strategy,” added Jonathan Clarke, founder and Chief Software Developer, Whitespace.

Looking ahead, this exciting development serves to illustrate the potential for greater collaboration, system integration and interoperability between insurers and brokers, and the benefits of API-based integration. These include enhanced data accuracy, reliability and analytics, faster response times and simplification – all of which are ultimately beneficial for clients.

The full news release can be read here.