Zurich Insurance Group Introduces API Marketplace Zurich eXchange

Zurich Insurance Group (Zurich) has launched Zurich eXchange, a newly created global API marketplace that “brings together the best services from across the Zurich Group, enabling faster integration and more efficient collaboration throughout the company and with customers and partners.”

The move “marks the next chapter of Zurich’s digital transformation journey.”

An Application Programming Interface (API) “enables different systems to communicate with one another effectively, which makes them an indispensable part of any digital transformation.”

Opening up and publishing its APIs “helps Zurich avoid complex point-to-point integrations and allows customers, distributors and partners to connect digitally with Zurich from a single, all in one platform.”

Ericson Chan, Group Chief Information and Digital officer, says:

“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.”

Zurich’s modernized 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 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.”

With Zurich eXchange, customers and partners “can now also discover and leverage a collection of Zurich’s best APIs globally.” It 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.”

Frank Verkerk, Group Chief Platform Officer, says:

“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.”

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