Allianz's Asia Lab Invites Start-ups to Reinvent Insurance with New Digital Arena Platform

2016-11-14 11:44 4989

SINGAPORE, Nov. 14, 2016 /PRNewswire/ -- Allianz today announces the launch of its Digital Arena innovation platform, a programme that encourages start-ups and entrepreneurs to share and pitch fresh ideas that will reinvent the way insurance is delivered and experienced in Asia.

With the aim of bringing together Allianz commercial teams with high-potential entrepreneurs and start-ups from the digital community, the Digital Arena platform will support Allianz in identifying new ways to meet customer needs along the insurance value chain. The platform aims to pioneer next-generation innovation and solutions in connected health, mobility, insurtech, analytics and cyber security.

Robin Loh, Chief Digital Officer, Allianz Asia Pacific said, "Customer needs are evolving rapidly and it is important that we are open, committed and have the infrastructure to meet these changing demands. This innovation platform supports an exciting interaction with disruptive start-ups, and also scales our ecosystem with opportunities for growth. With the Digital Arena platform, even very small start-ups can work with and leverage Allianz's established market presence and commercial expertise across Asia."

Participating start-ups can register their interest on the portal, to have their propositions reviewed and shortlisted by Allianz's Asia Lab team, after which both parties enjoy the flexibility of exploring collaborative options that include partnerships or investments.

Ideas already developed from the pilot phase include the tie-up with RecomN, a Malaysia-based on-demand portal where customers hire tradespeople for services like home repair and food catering. RecomN's early exposure on the Digital Arena platform led to a successful partnership with Allianz Malaysia Berhard, with the insurer providing liability coverage for RecomN's daily online transactions.

This launch follows the unveiling of Allianz's Asia Lab earlier this year, which underscores Allianz's firm commitment to its fast-growing markets in this region. Singapore is home to Allianz's regional head office, from where it services 14 markets across life and health insurance, property and casualty insurance, and asset management.

Press contact:

May Kek: +65-6395-8118 / +65-9783-2014,
Tim Williamson: +65-6221-7310 / +65-9450-7361,

These assessments are, as always, subject to the disclaimer provided below.

About Allianz in Asia

Asia is one of our three major growth regions. It is characterized by a rich diversity of cultures, languages and customs. Allianz has been present in the region since 1910, providing fire and marine insurance in the coastal cities of China. Today, Allianz is active in 14 markets in the region, offering its core businesses of property and casualty insurance, life and health insurance and asset management. With its more than 32,000 staff, Allianz serves the needs of over 18 million customers in the region across multiple distribution channels.


About Allianz

Together with its customers and sales partners, Allianz is one of the strongest financial communities. More than

85 million private and corporate customers insured by Allianz rely on its knowledge, global reach, capital strength and solidity to help them make the most of financial opportunities and to avoid and safeguard themselves against risks. In 2015, around 142,000 employees in over 70 countries achieved total revenues of 125.2 billion euros and an operating profit of 10.7 billion euros. Benefits for our customers reached 107.4 billion euros. This business success with insurance, asset management and assistance services is based increasingly on customer demand for crisis-proof financial solutions for an aging society and the challenges of climate change. Transparency and integrity are key components of sustainable corporate governance at Allianz SE.

Cautionary note regarding forward-looking statements

The statements contained herein may include prospects, statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those expressed or implied in such forward-looking statements.

Such deviations may arise due to, without limitation, (i) changes of the general economic conditions and competitive situation, particularly in the Allianz Group's core business and core markets, (ii) performance of financial markets (particularly market volatility, liquidity and credit events), (iii) frequency and severity of insured loss events, including from natural catastrophes, and the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) particularly in the banking business, the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates including the euro/US-dollar exchange rate, (ix) changes in laws and regulations, including tax regulations, (x) the impact of acquisitions, including related integration issues, and reorganization measures, and (xi) general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences.

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The company assumes no obligation to update any information or forward-looking statement contained herein, save for any information required to be disclosed by law.

Source: Allianz