Allianz and Microsoft join forces for Digital Innovation in Insurance Industry leveraging Azure Cloud Platform

Allianz has recently partnered with Microsoft to re-imagine the insurance industry experience with the help of digital transformation leveraging Azure cloud platform.

The new partnership has a focus on digitally transforming the insurance sector experience. It will further simplify the insurance process for both the insurers and their customers.

Under this new partnership, Allianz is set to transfer core pieces of its Allianz Business’ System(ABS) global insurance platform to the Microsoft Azure cloud platform. Allianz also plans to open-source some parts of the solution core to both expand and improve capabilities, notes the announcement.

Executive Opinion

COO and member of the Board of Management of Allianz SE, Christof Mascher, said, "Teaming up with Microsoft and leveraging Azure’s secure and trusted cloud platform will support us in digitalizing the insurance industry. 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."

Jean-Philippe Courtois, EVP, and president, Microsoft Global Sales, Marketing and Operations, said, “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.”

More on Microsoft and Allianz collaboration

Microsoft will partner with Syncier, an insuretech Allianz company set up to offer customized insurance platform solutions.

Syncier will provide configurable ABS Enterprise Edition as a service to the insurance providers. The platform solution is expected to result in greater efficiencies across all the lines of the insurance business.

It has also been revealed that in an effort to accelerate industry innovation, Syncier will also provide with an Azure cloud-based marketplace. Ready-Made software applications and services that are made specifically for the insurance industry will be available on marketplace, notes the announcement.