The verdict in three sentences
For a wholesale broker or MGA in Amsterdam distributing through 400 partner brokers, an insurance rating API with an extranet costs EUR 40,000 to 90,000 ex VAT in 2026. The main gain is commercial: quote time drops from 2 days to 2 minutes, and the broker who gets an instant price places the risk with you rather than a competitor. The heart of the project is the rating rules engine, which your underwriters must be able to configure without new development.
Why a wholesale broker needs an API in 2026
Today most wholesale brokers receive requests by email with a PDF questionnaire, re-key the data into a rating spreadsheet, then send a proposal 24 to 48 hours later. Meanwhile the retail broker asks two other markets. Comparison platforms and broker software (portfolio management tools, sector CRMs) can now call APIs: if your rates are not there, you disappear from their screen.
| Indicator | Manual process (email + spreadsheet) | API + extranet |
|---|---|---|
| Average quote time | 1 to 2 days | 2 minutes |
| Quotes handled per underwriter per day | 15 to 25 | Unlimited, underwriters handle referrals only |
| Quote to policy conversion (estimate) | 12 to 18 % | 20 to 30 % |
| Re-keying errors | 2 to 4 % of files | Under 0.5 % |
| Availability | Office hours | 24 hours a day |
| Traceability of advice (IDD) | Scattered across emails | Timestamped log per quote |
2026 budget item by item
The range mainly depends on the number of products (professional liability, commercial package, fleet, income protection) and the complexity of acceptance rules.
| Component | 2026 cost (EUR ex VAT) | Scope |
|---|---|---|
| Scoping and rate modelling | 4,000 - 8,000 | Inventory of rate tables, variables, exclusions |
| Rating rules engine | 12,000 - 28,000 | Tables, factors, deductibles, acceptance rules, versioning |
| REST API and OpenAPI documentation | 8,000 - 16,000 | Quote, bind and document endpoints, sandbox |
| Security: OAuth2, quotas, logging | 4,000 - 10,000 | One client per broker, call limits, audit |
| Broker extranet | 8,000 - 18,000 | Online quoting, PDF quotes, deal tracking |
| Underwriter back office | 4,000 - 10,000 | Edit rate tables without a developer, approve referrals |
| Total | 40,000 - 90,000 | 4 to 7 month timeline |
Add 10 to 15 % of the initial budget per year for maintenance, EU hosting and product changes. An off the shelf rating SaaS may look cheaper at first (EUR 1,500 to 4,000 ex VAT per month), but it imposes its data model and often charges by quote volume.
The architecture choices that matter
Three decisions drive success. First, separate rules from code: underwriters must change a loss ratio factor or a deductible in an interface, with an effective date, without opening a ticket. Second, version every rate: a quote issued in March must be recalculated identically in case of dispute. Third, treat each broker as a distinct API client with OAuth2 credentials, a quota (for example 1,000 calls per day) and its own commission terms.
OpenAPI documentation is not a detail. A broker software vendor integrates a well documented API with a sandbox in 5 to 10 days, versus several weeks for a poorly described one. That lead time determines your distribution speed.
Mini case study
Pieter, managing director of a wholesale broker in Amsterdam specialising in professional liability and commercial package, receives 600 quote requests a month from 400 partner brokers. With a 15 % conversion rate, he binds 90 policies a month at an average commission of EUR 450, or EUR 40,500 of monthly commission.
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After deploying a EUR 65,000 ex VAT API, the prudent assumption is 22 % conversion, or 132 policies and EUR 59,400 of monthly commission. The EUR 18,900 monthly gain repays the project in under 4 months, not counting the 2 underwriters who move from re-keying to analysing complex risks. These figures are illustrative and must be recalculated on your own book.
FAQ
How much does an insurance rating API cost in 2026?
Between EUR 40,000 and 90,000 ex VAT including the extranet and back office. A scope limited to a single product starts around EUR 25,000 ex VAT.
How long until production?
Allow 4 to 7 months. Scoping the rate tables often takes 4 to 6 weeks, because rules are rarely documented in one place.
Why OAuth2 rather than a simple API key?
OAuth2 lets you revoke a broker's access in seconds and limit rights by use (quote only, or bind). With 400 partners it is a baseline security requirement.
Must the API be hosted in the Netherlands?
Prospect data is personal data under GDPR: hosting in the EU simplifies compliance. The extra cost compared with a US cloud region is roughly 0 to 15 %.
Do the risk carriers need to approve the project?
Yes, if you hold delegated underwriting authority, the insurer will want to audit the acceptance rules. Plan 2 to 3 weeks of acceptance testing with them.
Let's scope your project. We scope your rating API (products, rules, extranet, security) with an indicative budget and a production timeline. Detailed quote within 48 h. WhatsApp +221 77 596 93 33.
Mohamed Bah
Fondateur, Kolonell
Passionate about digital and entrepreneurship in Africa, Mohamed has been helping Sénégalese businesses with their digital transformation since 2020. Founder of Kolonell, he believes every SME deserves a professional and accessible online présence.
