apidays London 2022 - Bringing the value of APIs into the boardroom across FS, Matt Carter, Altus

apidays London 2022 - The Path from Open Banking to Embedded Finance
October 26 & 27, 2022

Bringing the value of APIs into the boardroom across FS
Matt Carter, Practice Director, Insurance – Specialty Markets at Altus
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Transcript

1. COPYRIGHT © ALTUS LIMITED 2022. ALL RIGHTS RESERVED Bringing the value of APIs into the boardroom across FS 26.10.2022
2. 2022 SERIES OF EVENTS New York JULY (HYBRID) Australia SEPTEMBER (HYBRID) Singapore APRIL (VIRTUAL) Helsinki & North MARCH (VIRTUAL) Paris DECEMBER (HYBRID) London OCTOBER (HYBRID) Hong Kong AUGUST (VIRTUAL) JUNE (VIRTUAL) India MAY (VIRTUAL) APRIL (VIRTUAL) Dubai & Middle East JUNE (VIRTUAL) Check out our API Conferences www.a pida ys .globa l Want to talk at one of our conferences? apidays.typeform.com/to/ILJeAaV8
3. • Bees •APIs •API day •APIdays •Apidae
5. Photo by Balázs Kétyi on Unsplash
6. Intro A bit about me • 35 + years in insurance and technology • Launched 5 businesses, 1 trade sale, various exec roles • Always been curious about connecting technology • Comfortable in the space where INSUR meets TECH • Now enjoying the variety of helping insurance companies develop new propositions or delivering a digital first operating model • Focused on change and love the concept of ‘nudges’ • Followed the evolution of APIs from the outside Matt Carter Practice Director, Insurance Matt.carter@altus.co.uk
7. NOT ALL BOARDS ARE CREATED EQUAL
8. So how do Application Programming Interface’s get into the boardroom?
9. Top down directive API’s API • Technology advancements can come from the boardroom and drift down • What is rarely understood is the cost or complexity involved in these ‘suggestions’
10. Bottom up influence API’s • Technology advancements when being raised for the first time would benefit from a real life example • Focusing on both the human and business side and leave the technology at the door
11. Headwinds for APIs • Lack of visibility • Little strategic context • Lack of understanding • Unfamiliar with how connected modern businesses really are • Not seen as important or valuable
12. How do we shift the API needle, the tailwinds • Focus on business agility • Build ‘stickier’ relationships • Faster growth • Create additional monetisation opportunities • Reuse and leverage digital assets • Allows a business to scale Transformational Utility API importance
13. Establish the context • APIs drive growth opportunities • Turn APIs into products • See them as assets • Business can’t build everything required to run the business • Improve partnerships • Focus on use
14. API’s a metaphor for the modern business • ANALYTICAL • NEW VALUE PROPOSITIONS £ Microservices Architecture • Decentralised • Built for modern businesses • Resilient • Observable • Autonomous CONTINUOUS IMPROVEMENT • MORE CONNECTED BUSINESS • STRONGER PARTNERSHIPS CUSTOMER CENTRICITY Raising the bar
15. • USE DATA TO ENGAGE • HIGHLIGHT THE POWER OF CONNECTIONS • FOCUS ON CONTEXT • IDENTIFY NEW OPPORTUNITIES
16. COPYRIGHT © ALTUS LIMITED 2022. ALL RIGHTS RESERVED Any Questions ? Thank you for listening Matt Carter Practice Director, Insurance Matt.carter@altus.co.uk