Insurers’ success has always hinged on their ability to analyze data effectively to price and underwrite policies accurately. While this analytical capability remains essential, outdated legacy systems hinder insurers from competing in a rapidly changing market. According to McKinsey, modernizing legacy systems can reduce IT costs per policy by 41%, increase operations productivity by 40%, improve claim accuracy, increase gross written premiums, and reduce churn.

92% of enterprises are working on or planning an application modernization strategy. This trend shows a growing focus on upgrading technology. Modernizing existing systems and data infrastructure allows organizations to turn old, inefficient setups into flexible, scalable solutions that support future growth. These initiatives mitigate the risks of outdated technology and position companies to take advantage of new opportunities, such as big data analytics and integration with cloud technologies.

The global API market’s value reached $5.42 billion in 2024 and is expected to grow to $34.17 billion by 2032. This exponential growth underscores the increasing reliance on APIs for digital transformation strategies. As the API economy expands, so does the complexity and volume of data exchanged through APIs. API reporting tools streamline this process by providing all the features you need to leverage APIs effectively.

Let’s say you want to connect an Integration like GA4, and pull data from 3 different “properties” ( = 3 different Data Sources). Before, that required you to authenticate your Google account 3 times. Now, you’ll only have to log in and authenticate the Integration once. Once you do, you can select the Data Sources within that Integration you want the authentication to apply for.

Every organization faces incidents. These could be simple, such as customers being temporarily locked out of online accounts. Or they could be major incidents that damage your reputation, like a bad customer interaction that gets on the news. Or they could be damaging in another deep way, like a security breach or safety incident in manufacturing. Unplanned events are inevitable. How you handle them will make or break your organization.

Developing internal tools often requires significant time and coding skills, which pose challenges for many businesses. However, low-code platforms like Retool are changing the landscape, enabling the creation of admin tools with minimal coding. Highlighting the growing significance of low-code development, Gartner predicts that this approach will account for over 65% of all application development activity by the end of 2024.