Munich Re buys API-focused insurtech

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 100percent of shares in apinity GmbH.

Torsten Jeworrek, member of Munich Re’s Board of Management said: “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.”