Munich Re buys API-focused insurtech

10/05/2022

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 GmbH was until recently a Syncier GmbH business unit, operating under the name Syncier Marketplace. In short, apinity combines a software platform with a marketplace for sector-specific API services. Munich Re acquired 100% of shares in apinity GmbH, effective 4 October 2022. The parties agreed not to disclose the purchase price. Munich Re will employ all current personnel, 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: “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.”

apinity is an API software platform that enables insurers to utilise third-party API services, in turn making it possible to transparently manage both third-party and in-house APIs. Unlike conventional API management solutions, apinity is based on solid business-oriented user experience – while also handling critical business processes such as contract management, monetisation, and subscription management. apinity will make it far easier for insurers in particular to participate in the key area of open insurance.

You can read more about apinity and the API SaaS and marketplace solution here: www.apinity.io

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. It offers customers financial protection when faced with exceptional levels of damage – from the 1906 San Francisco earthquake through Hurricane Ida in 2021. Munich Re possesses outstanding innovative strength, which enables it to also provide coverage for extraordinary risks such as rocket launches, renewable energies or cyber risks. The company is playing a key role in driving forward the digital transformation of the insurance industry, and in doing so has further expanded its ability to assess risks and the range of services that it offers. Its tailor-made solutions and close proximity to its customers make Munich Re one of the world’s most sought-after risk partners for businesses, institutions, and private individuals. Disclaimer
This media release contains forward-looking statements that are based on current assumptions and forecasts of the management of Munich Re. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development of our Company, in particular the results, financial situation and performance. The Company assumes no liability to update these forward-looking statement or to make them conform to future events or developments.