Insights
The ACORD Model Reinforces Consistency in APIs
A lot of vendors and carriers do use the ACORD data model, but loosely. ACORD specifications do allow for flexibility and customization, which can create interpretive methods and result in a half-baked implementation of an ineffective data model. Penguin.Tech strives against this practice to strictly follow the ACORD standards to
Monolithic Upgrade Possibilities with Microservices
Many insurance software applications, such as property and casualty (P&C) insurance applications, are built as monolithic applications, and this has led to several performance challenges in the past. A prominent risk with monolithic applications is that a failure in one part of the application usually impacts the entire software application.
Dive into Microservices Insurance Technology Insights
It goes without saying that technology has influenced almost all industries in the world, and insurance has not been left out. In fact, technology has greatly transformed insurance and led to what is now known as InsurTech. This refers to the use and application of technology in various insurance operations
Machine Learning and AI Boost Hot Trends in the Insurance Industry
Two words that are on the minds of every executive and worker in various industries are machine learning and artificial intelligence. Everyone is wondering how these technologies will revolutionize their industry. In truth, artificial intelligence (AI) and machine learning have already transformed a lot of industries. One such industry under
Impact of APIs in the Insurance Industry
The business of insurance works by a simple equation, where by adjusting the variables to the maximum can bring incredible profits to companies. The more information is obtained, received and combined with others, the more these values can be adjusted to make insurance businesses more efficient and profitable. In our
How Artificial Intelligence is Transforming Insurance
Advanced artificial intelligence (AI) algorithms and machine learning (ML) have the power to revolutionize almost the insurance industry. Today, AI can handle mathematical, logical, or repeatable operations, with companies taking more advantage of the fact that AI and ML can take over the day-to-day mundane processing tasks to streamline operations.
