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Zurich launches global API marketplace

Zurich Insurance Group has launched Zurich eXchange, a next generation global Application Programming Interface (API) marketplace.

According to the firm this move marks the next chapter of Zurich’s digital transformation journey. Zurich eXchange will facilitate faster integration and more efficient collaboration throughout the company and with customers and partners.

An API is an indispensable part of any digital transformation, the firm explains, as it enables different systems to communicate with one another effectively.

By opening up and publishing its APIs, Zurich will be able to avoid complex point-to-point integrations and allows customers, distributors and partners to connect digitally with Zurich from a single, all in one platform.

The firm’s modernised API-led approach is built around a shared API management platform and Group-wide API standards designed to ensure that when Zurich builds APIs, it does so with quality and security at their core, and so they can be easily discovered and reused.

This new approach, the firm added, has already been adopted by 15 Zurich business units and currently covers 1,433 managed APIs, with more than 63 million API-enabled transactions per month.

Frank Verkerk, Group Chief Platform Officer, commented: “While APIs aren’t new, Zurich eXchange demonstrates Zurich is serious about doing digital business. Our new API-led approach allows us to leverage our global footprint and expertise.

“By collecting our APIs in one place, they can be shared more effectively both across Zurich and with our customers and partners. At the same time, we ensure that they are easy to use, well-managed and secure.”

Zurich eXchange currently offers 50 open APIs all in one place, where they can be employed more easily by Zurich’s customers and partners.

Through these APIs, for example, Zurich is already enabling its commercial claims customers to seamlessly access their latest claims data and policy documents digitally at any time. Other APIs allow customers and partners to easily integrate new Zurich insurance products into their own digital channels.

Ericson Chan, Group Chief Information and Digital officer, said: “The launch of Zurich eXchange marks an important milestone: it enables partners and business to seamlessly integrate with our products and services, and it plays a key role in promoting innovation to deliver real value for our customers.”

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