Howden CAP and AXA XL collaborate to develop structured credit APIs – utilising digital products to better serve institutional clients


Read time

Collaboration reflects Howden CAP’s strategy to build the market’s first interconnected marketplace connecting clients and carriers in real time, delivering an enhanced data driven service for clients

London, 26 January 2023: Howden CAP and AXA XL in the UK have announced an API collaboration, representing Howden CAP’s third API collaboration with an underwriting partner in the last 12 months. This development reflects Howden CAP and AXA XL’s commitment to utilise digital platforms to enhance efficiency and market integration, and to provide seamless insurance solutions for institutional clients. It follows Howden CAP’s successful integrations with Mosaic and Allianz Trade, as Howden CAP looks to create the world’s first comprehensive API network for any specialty insurance product in the market.

APIs (Application Programming Interfaces) are efficient data-sharing systems that integrate data formats and languages from different organisations. APIs cut costs by eliminating the need to reconcile or manually adjust data between connecting parties. By collaborating with underwriters, Howden CAP clients and their broking teams can obtain offers and execute business, delivering a data-driven method of trading and placement of insurance.

Oli Bowes, Executive Director, Howden CAP, commented: “With the AXA XL collaboration, we are truly highlighting the great strides that Howden CAP is making in this area. We are now seeing a heightened interest across the structured credit market in respect to integration with Tepfin X and we expect to see increased activity throughout 2023. While Howden CAP is the only broker in the London structured credit insurance market to have direct APIs with insurers, we welcome our broker peers to partner with us as we develop this network.”

Paul Hillier, Managing Director of Howden’s xTrade platform, said: “As the market digitises, we are committed to becoming the simplest and most advanced broker to work with. Providing structured data to our carrier partners in real time will help to achieve this ambition. We are excited to collaborate with a company with the scale and reach of AXA XL to expand Howden’s rapidly developing API framework via Tepfin X.”

Jay Hopkins, Divisional Director at Howden CAP, said: “Howden CAP and AXA XL are taking a leading role in systems integration and interoperability between insurers and brokers. This will be another milestone in the Credit Political Risk Insurance market, utilising the latest electronic placement tools for the presentation, negotiation, binding and management of credit insurance contracts through APIs.  APIs will play a fundamental and unifying role in the structured credit market’s digital transition.  

Ian Nunn, Head of Political Risk, Credit & Bond, AXA XL, UK & Lloyd’s, said: “Supporting the changing needs of our clients as they operate in an increasingly digital environment is a key priority for AXA XL in the UK. This innovative collaboration with Howden CAP will help to further drive market efficiency by digitising the service of our Political Risk, Credit & Bond products to achieve enhanced data-driven workflows between clients, brokers and insurers.”

Simon White, Business Transformation Lead, AXA XL, UK & Lloyd’s, said: “AXA XL is pleased to be working with Howden CAP to develop API integration. This project not only reinforces AXA XL’s commitment in the UK to digitising our offering to the benefit of clients and brokers, it also enhances the workflow of our underwriting teams, allowing them to have faster and deeper insights in real-time.”