The advantages are that your vital organs would be protected, your skeleton grows with you without you having to shed it like an exoskeleton, and you would have a lesser chance of becoming paralyzed...
Exoskeletons are much more protective than endoskeletons, which is an advantage because exoskeletons cover the muscles and other soft tissuses from harm.
Exo means "outside" and endo means "inside". A human being has an endoskeleton which protects the nerves and blood vessels and has muscles attached to the skeleton to enable movement. A good example...