Application programming interface (API) provider TrueLayer has partnered with independent insurance adviser Anorak to enable the first application of PSD2 into the life insurance market.
Traditionally, an insurance provider would sell products and consumers would usually choose the cheapest. However, by using Open Banking to gain access to an individual’s data and predict the level of life insurance cover they will need, Anorak is opening up a new market.
TrueLayer provides an interface between financial institutions and third-party applications over an API. This enables companies to capitalise on Open Banking and PSD2 rules by providing secure access to banking infrastructure.
Francesco Simoneschi, chief executive and co-founder of TrueLayer, said that by leveraging their financial data, consumers are empowered to make an informed choice on the life insurance policy that is best for them – saving both time and money.
Application programming interface (API) provider TrueLayer has partnered with independent insurance adviser Anorak to enable the first application of PSD2 into the life insurance market.
Traditionally, an insurance provider would sell products and consumers would usually choose the cheapest. However, by using Open Banking to gain access to an individual’s data and predict the level of life insurance cover they will need, Anorak is opening up a new market.
TrueLayer provides an interface between financial institutions and third-party applications over an API. This enables companies to capitalise on Open Banking and PSD2 rules by providing secure access to banking infrastructure.
Francesco Simoneschi, chief executive and co-founder of TrueLayer, said that by leveraging their financial data, consumers are empowered to make an informed choice on the life insurance policy that is best for them – saving both time and money.
Anorak co-founder and chief executive David Vanek stated: “It used to be impossible to comprehensive life insurance advice online, people had to used price comparison websites to find the right cover which seems crazy – to purchase something so important based on the provider that gives you the cheapest policy.”
Latest News
-
JPMorgan hires ex-HSBC global mergers chief as investment bank exodus continues
-
Global Payments to sell payroll business in $1.1bn deal
-
Citi invests in embedded mortgage platform Vontive
-
Vodafone launches Pay by Bank in Germany
-
UK FinTech hiring to ‘increase by 32%’ in 2025
-
Lloyds Bank trials Lumio’s shared finances app with select customers
Beyond compliance: Transforming document management into a strategic advantage for financial institutions
In this exclusive fireside chat, John Rockliffe, Pre-Sales Manager at d.velop, discusses the findings of Adapting to a Digital-Native World: Financial Services Document Management Beyond 2025 and explores how FSIs can turn document workflows into a competitive advantage.
Sanctions evasion in an era of conflict: Optimising KYC and monitoring to tackle crime
The ongoing war in Ukraine and resulting sanctions on Russia, and the continuing geopolitical tensions have resulted in an unprecedented increase in parties added to sanctions lists.
Achieving operational resilience in the financial sector: Navigating DORA with confidence
Operational resilience has become crucial for financial institutions navigating today's digital landscape riddled with cyber risks and challenges. The EU's Digital Operational Resilience Act (DORA) provides a harmonised framework to address these complexities, but there are key factors that financial institutions must ensure they consider.
Legacy isn’t the enemy: what FSIs can do to keep their systems up and running
In this webinar we will examine some of the steps FSIs have already taken to rigorously monitor and test systems – both manually and with AI-powered automation – while satisfying the concerns of regulators and customers.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories