Allianz has partnered with Microsoft to bring digital offerings to the insurance sector.

Through the strategic partnership, the insurer will move core pieces of its global insurance platform, Allianz Business System, to Azure cloud. It will also open-source parts of the solution’s core to improve and expand capabilities.

Syncier, the insurtech company founded by the German group, will offer a configurable version of the solution, ABS Enterprise Edition, to insurance providers as a service.

This will centralise portfolio management across all lines of business, including P/C, health and assistance. It can be tailored to meet country and regulatory requirements.

Chief operating officer and member of Allianz SE’s board of management, Christof Mascher said: “Teaming up with Microsoft and leveraging Azure’s cloud platform will support us in digitalising the insurance industry.

“Through this partnership, Allianz and Syncier strive to offer one of the most advanced insurance-as-a-service solutions on Microsoft Azure,” he added. “The ABS Enterprise Edition is an opportunity, both for larger insurers needing to replace their legacy IT, and smaller players – such as insurtechs – looking for a scalable insurance platform.”

Executive vice-president and president of Microsoft global sales, marketing and operations, Jean-Philippe Courtois said: “Together, Microsoft and Allianz are offering a solution that combines Allianz’s deep knowledge of the insurance sector with Microsoft’s 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,” he added.

Syncier will also offer an Azure cloud-based marketplace for ready-made software applications and services tailored to the insurance sector, such as customer service chatbots or AI-based fraud detection.

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