Allianz partners with Microsoft to streamline the insurance process
Insurer Allianz SE has partnered with Microsoft on a strategic partnership that aims to make the insurance process easier while creating a better experience for insurance companies and their customers.
Microsoft will partner with Syncier, the B2B2X insurtech founded by Allianz, to offer customised insurance platform solutions and related services.
Allianz will move core pieces of its global insurance platform, Allianz Business System (ABS), to Microsoft’s Azure cloud and will open-source parts of the solution’s core to improve and expand capabilities.
Syncier will offer a configurable version of the solution, called ABS Enterprise Edition, to insurance providers as a service, with the aim of reducing costs and centralizing their insurance portfolio management. Allianz said this will increase efficiencies across all lines of insurance business, resulting in better experiences through tailored customer service and simplified product offerings.
“Teaming up with Microsoft and leveraging Azure’s secure and trusted cloud platform will support us in digitalizing the insurance industry,” said Christof Mascher, COO and member of the board of management of Allianz SE. “Through this partnership, Allianz and Syncier strive to offer one of the most advanced insurance as a service solutions on Microsoft Azure. The ABS Enterprise Edition is an exciting opportunity, both for larger insurers needing to replace their legacy IT, and smaller players – such as insurtechs – looking for a scalable insurance platform.”
Jean-Philippe Courtois, EVP and president, Microsoft global sales, marketing and operations, added: “Allianz is setting the standard for insurance solutions globally. Together, Microsoft and Allianz are offering a solution that combines Allianz’s deep knowledge of the insurance sector with Microsoft’s trusted Azure cloud platform. By delivering an open-source, cloud-based insurance platform and software application marketplace, we will support innovation and transformation across this sector.”
Syncier’s ABS Enterprise Edition can handle insurance processes across all lines of business: property and casualty, life, health, and assistance. It can be customized for any insurance company, country and regulatory requirements. Insurers, brokers and agents adopting the platform can service clients and manage entire portfolios end to end in one system, gaining a 360-degree view of each client and the business.
To accelerate industry innovation, Syncier will also offer an Azure cloud-based marketplace for ready-made software applications and services tailored to the insurance sector.
Get all the latest re/insurance industry news with our daily newsletter - sign up here.
Pioneer places Pioneer Syndicate 1980 into run-off
Leadership changes at AGCS and Allianz Germany
Identity theft coverage could evolve into standalone personal cyber insurance
Fitch: Rising US P/C Insurance premiums unlikely to lead to hard market
Tokio Marine Kiln appoints chief underwriting officer
AXA makes three key promotions
DataCubes raises $15.2m in Series B funding round
Hub International acquires the assets of Manitoba-based WR Carey Corporation
Chubb appoints division president, Chubb Global Markets
