Venturing unit of Allianz names CEO
Allianz X, the digital unit of Allianz Group that develops business models in the InsurTech space, has appointed Peter Borchers as chief executive officer, effective October 1.
Borchers has over 20 years of experience in the area of corporate incubation and corporate start-up collaboration, and is the founder of Deutsche Telekom‘s global incubator, hub:raum, with offices in Berlin, Krakow and Tel-Aviv.
Christof Mascher, chief operating officer of Allianz Group, said: “Allianz X will unlock strategic growth opportunities for Allianz in InsurTech and adjoining areas like blockchain, artificiaI intelligence or virtual reality, addressing topics like mobility, health and care. Peter Borchers has broad experiences in digitisation and I am glad he’ll join Allianz.”
Solmaz Altin, chief digital officer of Allianz SE added: “We share with Peter Borchers the same enthusiasm about the digital potential in insurance. Allianz X will open up significant growth potential for Allianz in a targeted manner and with creative freedom.
“It will also have internal effects by promoting an entrepreneurial mind-set. In addition to directly strategically relevant areas, so-called moonshots are also possible and desired. We have allotted an annual investment budget in the double-digit million euros.”
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