In the latest edition of the Open Insurance Monitor, an INNOPAY initiative that monitors the developments of the global Open Insurance landscape, CCS is recognised as a 'Master in Openness'.
CCS is a newcomer to the Open Insurance Monitor and, according to INNOPAY, is a notable entrant to the list of innovative companies: “CCS has a wide API scope that covers multiple components of the insurance value chain, plus it acts as an API marketplace for its customers. Its developer experience is more advanced than its Insurtech peers. For example, CCS offers proper developer usability features such as automatic onboarding, SDKs and app management & analytics functionality.”
What is Open Insurance?
Thanks to Open Insurance, it is possible for insurers to take advantage of the abundant flows of (real-time) data available in the sector. Open Insurance enables insurers to work more efficiently, to serve customers in a more targeted way and to develop new business models. Digital ecosystems free up data for other parties, so that new products and services can be developed and rolled out more quickly in both existing and new markets.
Masters in Openness
The entry into the Open Insurance Monitor and the prestigious accolade of ‘Master in Openness’ is a huge compliment for CCS. Jochem Davids, CMO at CCS, explains: “Open Insurance is no longer a pipe dream but a reality. For insurers who want to ensure their business continuity and remain relevant to their customers, the time has come to develop a strategy that focuses on the use of data and digital ecosystems.”
Max Speur, CEO at CCS, adds: “The rapid pace of technological progress and the quickly changing market are causing a major disruption in the insurance sector.
With our Digital Insurance Platform, we place complete control of the entire insurance chain in the hands of the insurer - from start to finish, from marketing to underwriting and through to claims. In this way, they can make the step towards embedded and real-time connected insurance. Insurers who are slow to respond or get stuck in traditional business models are certainly going to be impacted by this.
Being recognized in the Open Insurance Monitor’s quadrant as a ‘Master in Openness’ confirms once again that our platform offers a solution that can accelerate digital transformation in the insurance market.”
Marketplace and the Developer Portal
Part of the Digital Insurance Platform, Marketplace is an open ecosystem where innovative third-party solutions can easily be purchased from an AppCenter and where external parties, customers and partners are able to add and offer their solutions directly via a Developer Portal.
Jochem Davids: “With Marketplace, we offer insurers and intermediaries the opportunity to purchase solutions from various fields and to implement them in a complex IT landscape by means of APIs.
Marketplace has different categories divided over three main themes: Customer Experience, Data and Operational Excellence. This allows our customers to expand their services without shifting their focus from their core business.
We are proud to be featured in the Open Insurance Monitor and to have our vision of the insurance market of the future internationally recognised. This is a fantastic new step, but certainly not the end of the amazing journey we are on as a company.”
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