Allianz and Microsoft have announced a strategic partnership focused on digitally transforming the insurance industry.

The insurance group will move core pieces of its global platform, Allianz Business System (ABS), to the software giant’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, reducing costs and centralising insurance portfolio management.

Syncier’s ABS Enterprise Edition can handle insurance processes across all lines of business: property and casualty, life, health, and assistance. Insurers, brokers and agents adopting the platform can service clients and manage entire portfolios end to end in one system.

It 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.

Christof Mascher, chief operating officer and Allianz board member, stated: “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, president of Microsoft global sales, marketing and operations, added: “By delivering an open-source, cloud-based insurance platform and software application marketplace, we will support innovation and transformation across this sector.”

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