The exchange of information between the bank and the insurance company as part of the mortgage process was tested at the AFL site

2024: Completion of the first stage of information exchange between the bank and the insurance company as part of the mortgage process

The first stage of the pilot for the exchange of information between the bank and the insurance company as part of the mortgage process has been completed at the AFL site. The company announced this on December 18, 2024.

During a pilot project in the Technology Sandbox of the FinTech Association, ДОМ.РФ and AlfaInsurance tested the exchange of information about insurance and loan agreements through Open APIs between the bank and the insurance company. The propilated Open API standards will speed up and simplify the exchange of data between banks and insurance companies and make the process of prolonging insurance contracts seamless.

At the FinTech Association (AFL) site, the first stage of the pilot project for the exchange of information between the insurance company and the bank through the Open APIs has been completed. During the pilot, its participants - Bank ДОМ.РФ (part of the ДОМ.РФ group) and AlfaStrakhovanie - exchanged information on loan agreements and insurance policies of customers as part of the mortgage process. The result of the project was the agreed standards of the Open API, which are planned to be offered to participants in cross-industry interaction as recommendations. The application of standardized APIs will speed up and simplify the exchange of data between banks and insurance companies, ensuring a high level of security, and will make it possible to automatically renew insurance contracts in mortgage lending, making this process seamless and digital.

We see a request from the market for standardization of information exchange, because this allows you to quickly create and scale new services for customers. This is especially important for cross-industry interactions. This pilot project, of course, has become another step towards Open Data and will make the process of maintaining mortgage agreements more convenient for all its participants: banks, insurance companies and their clients, "said Anastasia Kayuchkina, director of open data and ecosystem development at the FinTech Association.

Our interaction within the pilot to prolong mortgage insurance contracts according to Open API standards clearly showed the need to create a completely different target process in working with insurance companies. On its basis, a universal interaction protocol is being formed, which meets standards and will be ready to scale in the industry from 2026, - said Nikolai Kozak, Deputy Chairman of the Board of ДОМ.РФ, Managing Director of the ДОМ.РФ.

Against the background of changes in the mortgage lending market, it is impossible to stand aside and not develop new client services and approaches in the insurance market. The Open API project of the FinTech Association is significant and is designed to unite the efforts of banks and insurance companies to create a full-fledged digital process of interaction with the client at each stage of supporting his mortgage loan, - commented Denis Titov, director of the property insurance department of AlfaStrakhovanie individuals.