Peter Borchers is one of the most experienced and highly respected leaders in the area of corporate incubation and corporate start-up collaboration. He will join Allianz from hub:raum/Deutsche Telekom.
Christof Mascher, Member of the Management Board of Allianz SE and Chief Operating Officer of Allianz Group, says: “Allianz X will unlock strategic growth opportunities for Allianz in InsurTech and adjoining areas like blockchain, artificiaI intelligence or virtual reality, addressing topics like mobility, health and care. Peter Borchers has broad experiences in digitization and I am glad he’ll join Allianz.”
Solmaz Altin, Chief Digital Officer of Allianz SE says: „We share with Peter Borchers the same enthusiasm about the digital potential in insurance. Allianz X will open up significant growth potential for Allianz in a targeted manner and with creative freedom. It will also have internal effects by promoting an entrepreneurial mindset. In addition to directly strategically relevant areas, so-called moonshots1 are also possible and desired. We have allotted an annual investment budget in the double-digit million euros.”
Allianz X is one of the key pillars of the Digital Transformation strategy of Allianz Group and represents the company builder and venturing unit. Allianz X will be identifying, building and globally scaling new business models in the InsurTech space with the highest degree of entrepreneurial freedom. Allianz X helps building companies that serve and improve the lives of customers and can have impact on a global scale.