Switzerland-headquartered F10 Fintech Incubator and Accelerator has reportedly added several different insurance APIs from Baloise, a Swiss insurance holding firm. The APIs are now a part of the F10 Fintech Sandbox. This development aims to support Open Insurance services in the European country.
Last year, the F10 accelerator had introduced its sandbox program in order to provide Fintech firms convenient access to various banking and insurance APIs.
The F10 Fintech Sandbox has been built and hosted by ndgit, a Munich-headquartered firm and F10 alumni. The initiative was introduced with a PSD2 API and was also enhanced or updated by several other projects (for example, b.Link by SIX Group which links third-parties to major Swiss banks).
The main idea or concept behind the F10 Fintech Sandbox is to allow Fintechs to test out their solutions and compare them to more traditional services. The testing may be carried out in an easy-to-use setup, which aims to support collaborative projects between Fintech startups and financial institutions.
This latest addition to the sandbox is the API offered by Baloise Group which is F10’s corporate partner. Baloise works cooperatively with London-headquartered Insurtech firm KASKO to digitize various insurance products.
Several Baloise products, including multi-item insurance, holiday insurance or cyber insurance packages may be accessed via the sandbox. Product integration may be tested with an API key offered by F10.
Philipp Marty, Head of New Business and Partnerships at Baloise, remarked:
“For Baloise Insurance, APIs are one of the key success factors to be able to operate successfully in partnerships and ecosystems. We want to be a pioneer in the insurance industry and are proud to be the first Swiss insurance company to achieve this milestone, together with our long-standing accelerator partner F10. Thus, the connected startups and other curious companies can test their use cases.”
The sandbox is currently open for all initiatives that are part of the F10 ecosystems in Switzerland, Singapore, and Spain. F10 corporate partners and various other corporates can offer their APIs to many different high-potential startups.