How to prevent Insurers from loosing the Platform Wars – ‘Balanced Values’ API Architecture

Why it’s important to find the right mix of Platform Openness and Value Sharing

And how to by leveraging the right Open APIs approach

Many Platform- and Ecosystem Strategies are possible. Also different API strategies are applicable. But one, who really wants to benefit from exponentiell  platform-network effects, should follow the ‘True Open API Architecture‘ approach compared to Pipeline Architectures, I guess. Why? By keeping specific API core features within the authority of  Incumbents and Insurers the Insurer can increase or keep the binding to and the interaction with the customer:

Fair mix of Value Sharing

The Insurer keeps the Identity of the customer and can leverage it for further interactions. The user is a known customer and not only a ‘product sale’. The Insurer’s API provides Strong Customer Authentication to enable further transactions, e.g. for cross-selling, with the known customer. The API Provider, the Insurer, provides Login and Registration to keep the user interface to the customer. The API User can benefit from transaction fee sharing, can integrate and can extend the given functionality and can create new services and products. The API User doesn’t have to care for the complex handling of Identity and Security. I assume, it’s a fair and from an Insurer’s perspective also necessary approach in a platform-driven and changing world. Your thoughts?