MUNICH and REDMOND, Wash., Nov.
14, 2019 /PRNewswire/ -- On Thursday, Allianz SE and
Microsoft Corp. announced a strategic partnership focused on
digitally transforming the insurance industry, making the insurance
process easier while creating a better experience for insurance
companies and their customers. Through the strategic partnership,
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,
allowing them to benefit from one of the most advanced and
comprehensive insurance platforms in the industry, reducing costs
and centralizing their insurance portfolio management. 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 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."
"Allianz is setting the standard for insurance solutions
globally," said Jean-Philippe
Courtois, EVP and president, Microsoft Global Sales,
Marketing & Operations. "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 unique 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. Such solutions could
include, for example, customer service chatbots or AI-based fraud
detection. The marketplace enables insurance providers to easily
and quickly implement the available solutions in a plug-and-play
manner.
Allianz uses ABS globally as a platform for all lines of
business and along with Microsoft is committed to supporting the
ABS Enterprise Edition long term as an industry solution. Today,
ABS handles around 60 million insurance policies in 19 countries
and is being rolled out to all Allianz entities.
About Allianz
The Allianz Group is one of the world's leading insurers and
asset managers with more than 92 million retail and corporate
customers. Allianz customers benefit from a broad range of personal
and corporate insurance services, ranging from property, life and
health insurance to assistance services to credit insurance and
global business insurance. Allianz is one of the world's largest
investors, managing around 729 billion euros on behalf of
its insurance customers. Furthermore, our asset managers PIMCO and
Allianz Global Investors manage more than 1.5 trillion euros
of third-party assets. Thanks to our systematic integration of
ecological and social criteria in our business processes and
investment decisions, we hold the leading position for insurers in
the Dow Jones Sustainability Index. In 2018, over
142,000 employees in more than 70 countries achieved
total revenues of 132 billion euros and an operating profit of
11.5 billion euros for the group. For more information on
Syncier, visit www.syncier.com.
About Microsoft
Microsoft (Nasdaq "MSFT" @microsoft) enables digital
transformation for the era of an intelligent cloud and an
intelligent edge. Its mission is to empower every person and every
organization on the planet to achieve more.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/allianz-partners-with-microsoft-to-digitally-transform-the-insurance-industry-300958051.html
SOURCE Microsoft Corp.