Zurich Insurance is launching a newly created global API marketplace, marking the company's next step toward digital transformation.
Insurance group Zurich is stepping up its efforts aimed at digitizing its business, launching the «Zurich eXchange» marketplace, which will provide customers and distribution partners with simplified access to the group's services and products, the company said Thursday.
The Zurich eXchange is an application programming interface (API) marketplace enabling different systems to communicate effectively with each other, making it an indispensable part of any digital transformation.
In order to move its digitization efforts forward, Zurich hired the first chief data officer in its history. In August last year, Zurich appointed Peter Kasahara to the new CDO role to oversee all aspects of data management and to help drive its digital transformation, as finews.com reported.
Easier Access
According to Ericson Chan, chief information and digital officer, the launch of Zurich eXchange enables partners and businesses to seamlessly integrate their own products and services. It also plays a key role in driving innovation, he said.
API standards are currently used by 15 business units in Zurich, supporting over 63 million API-supported transactions every month. The new marketplace will make it easier for customers to access policy documents or claims data, Zurich said.
