Munich Re has acquired apinity GmbH, a start-up that supplies application programming interface (API) solutions in the form of Software as a Service (SaaS) for the insurance industry’s entire ecosystem.
Apinity combines a software platform with a marketplace for sector-specific API services. Its API software platform enables insurers to utilise third-party API services, making it possible to manage both third-party and in-house APIs.
Apinity is capable of handling critical business processes such as contract management, monetisation, and subscription management making it easier for insurers to participate in the open insurance arena.
It was, until recently, called Syncier Marketplace and was part of the German insurance software group Syncier. Munich Re has committed to retaining all existing personnel, business relationships and Apinity’s technology platform, including all established third-party services.
With our API Business Operations SaaS platform, you can scale up your IT systems and services while enabling the monetization of your data, accelerating your partnerships, and ultimately unlocking business innovation.
Apinity will play a key role in driving forward the digitalisation of the insurance value chain and of primary insurance. What’s more, going forward, people will be able to use the Apinity marketplace to access our services, for example in the areas of nat cat and cyber.
The deal, of price undisclosed, comes after the reinsurer’s investment arm, Munich Re Ventures, backed digital life insurance platform Amplify by leading a fresh venture round.
The US-based life insurer allows customers to invest in public markets with their life insurance premiums, accessing tax-efficient returns through a product usually reserved for more affluent customers.
Munich Re is one of the world’s leading providers of reinsurance, primary insurance and insurance-related risk solutions. The Group consists of the reinsurance and ERGO business segments, as well as the asset manager MEAG. Munich Re is globally active and operates in all lines of the insurance business. Since it was founded in 1880, Munich Re has been known for its unrivalled risk-related expertise and its sound financial position.
