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Managing interfaces: The relevance of API platforms

Munich Re has acquired the German start-up apinity GmbH a few months ago. The start-up is a provider of an API platform for the entire insurance industry ecosystem. Bessem Ayari, Head of Innovation Strategy & Scouting at ERGO Group, explains what it's all about.

What is an API?

An API is the abbreviation for application programming interface through which two applications (for example, software programs or components) can exchange information. APIs play a crucial role in making enterprise systems and services more responsive and adaptable.

And what is an API platform?

An API platform is a digital backbone that provides a unified pool of functionality for developing and managing APIs to support an organisation's API strategy. It enables developers to securely manage the entire API lifecycle across the entire API landscape.

What does the start-up apinity do?

The start-up apinity offers a central platform of insurance-related API-based services. The services can either be made available to the entire insurance industry on the apinity marketplace or only within a company, so that companies can make their developed APIs internally transparent. This way, all departments of the company can benefit from the existing services and resources can be saved or allocated. apinity's API marketplace offers a broad portfolio of pre-selected API services that can be integrated into any existing IT infrastructure.

Why is an API platform important for Munich Re Group?

Martin Thormählen, CTO of Munich Re: “As CTO, I want to ensure at all times that Munich Re is able to leverage data at scale and quickly integrate new distribution partners or services – 100% securely and compliantly – and deliver our services with a seamless experience for clients.”

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