Zinnia advances API standardization for annuities

Life and annuity technology platform Zinnia said the Insured Retirement Institute (IRI) has approved four in-force transaction APIs built on Zinnia’s Enterprise API framework, establishing a common standard for annuity servicing.

The APIs enable real-time transactions and support a shift away from legacy, paper-based and batch systems, with early carrier adoption already underway through Zinnia’s platform. The initial set includes withdrawal quotes, withdrawals, and systematic withdrawal program setup and updates.

“When Zinnia contributed its API framework to IRI, we had a clear goal, which was to enable carriers and distributors to connect more seamlessly, accelerate integration, and build on shared standards. These approvals mean the industry now has a shared foundation to build on, and Zinnia is the platform where that standardization and adoption actually happens at scale.” – George Esposito, CEO of Zinnia.

“These standards represent an important step toward greater interoperability across the industry. Efforts like this help accelerate adoption of modern infrastructure, delivering faster, more reliable experiences for policyholders and agents while driving greater efficiency across the ecosystem.” – Michael Celi, Chief Product Officer of Zinnia.