In the financial sector, desired financial services from banks are integrated directly into companies’ offerings and environments as embedded finance solutions. The same can also be implemented with insurance products. In this way, companies in suitable environments can offer their customers products that can be booked immediately as embedded insurance packages from insurers.

Both bring concrete benefits and additional business for banks, insurers and the companies involved – and, above all, convenience for their customers. Convenience because a company’s customers can obtain suitable financial services or take out insurance directly at the time and in the surrounding area of ​​the purchase without any detours.

Baloise implements insurance APIs for digital partners in the real estate sector
With the support and the open finance platform of the Munich provider Ndgit, Baloise is now able to offer open insurance APIs for partners in the Swiss insurance market. In a first initial project, the online sale of construction insurance through third-party partners is to be made possible.

Martin Kaiser , New Business Manager at Baloise, states that the insurer wants to rely on an open insurance platform with which Baloise’s API projects can be implemented efficiently and scalably.
“We expect new revenue from the Open Insurance APIs – customers appreciate being able to purchase their insurance where their needs arise”

In the future, Baloise will offer this service online so that customers can, for example, take out construction insurance directly on the platforms of the insurer’s partners in the housing sector. In this way, Baloise is expanding its “Haus und Heim” ecosystem and enabling additional business via “external” transactions on the platforms of third-party partners.