Munich Re buys API-focused insurtech

Global reinsurer  Munich Re has acquired an insurtech start-up focussed on application programming interface (API).

apinity GmbH supplies API solutions in the form of Software as a Service (SaaS) for the insurance industry’s entire ecosystem.

apinity GmbH was until recently a Syncier GmbH business unit, operating under the name Syncier Marketplace. It combines a software platform with a marketplace for sector-specific API services.

Apinity’s API software platform enables insurers to utilise third-party API services, in turn making it possible to transparently manage both third-party and in-house APIs.

Under the deal, Munich Re will employ all current personnel of apinity and will maintain both existing business relationships and the technology platform – including all established third-party services.

Torsten Jeworrek, member of Munich Re’s board of management, said: “As well as being an insurtech for sector-specific services, apinity offers the potential to integrate other sectors into the insurance industry’s API ecosystem. That makes it a perfect fit for our Ventures portfolio. 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, e.g. in the areas of NatCat and cyber.”

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