Allianz creates Digital Arena for FinTech start-ups to reinvent insurance

Allianz Digital Arena

Allianz’s Asia Lab has announced the launch of its Digital Arena innovation platform, a program that encourages start-ups and entrepreneurs to share and pitch fresh ideas that aim to reinvent the way insurance is delivered and experienced in Asia.

With the goal 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 intends to pioneer next-generation innovation and solutions in connected health, mobility, insurtech, analytics and cyber security.

“Customer needs are evolving rapidly and it is important that we are open, committed and have the infrastructure to meet these changing demands,” said Robin Loh, Chief Digital Officer of Allianz Asia Pacific. “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.

Allianz’s Asia Lab was launched earlier this year.

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