Open insurance’ is a new way of doing business by sharing and consuming data and services with third parties by using application programming interfaces (APIs). It offers insurers the opportunity to enhance their products and increase revenue streams.

1. Better digital customer journeys
2. Improved customer engagement with integrated CRM
3. Enhanced risk management in insurance
4. Increase in partner ecosystems across industries

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Source URL: - https://www.simplesolve.com/blog/benefits-of-api-ecosytem-in-insurance