Allianz X, the digital investment unit of the Allianz Group, and Debeka, a German insurance and financial services provider, have invested in SDA SE Open Industry Solutions. Together with existing investors SIGNAL IDUNA and the msg group, the new strategic partners will support the development of a new standard for setting up and delivering digital services in the insurance industry.
Allianz X and Debeka invest in SDA SE Open Industry Solutions
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SDA SE offers insurance companies a reliable, modular, and quick way of setting up their own service platforms. Incorporating service-dominant architecture into its open-source platform, SDA SE allows companies to easily integrate existing IT systems and processes, onboard external partners and service providers, while retaining complete ownership of their data and analytics. Using SDA SE’s platform, insurance providers of all sizes can roll out their services swiftly and in real time, strengthen customer touchpoints, and operationalize their digital strategy.
"So far, insurance companies have primarily relied on in-house approaches and their own architectures for digital transformation," explained Stephan Hans, Managing Director of SDA SE. "These isolated solutions entail various disadvantages. They cover a great depth of the value chain, are expensive, and often do not take into account the know-how available on the market as a whole."
"We see our involvement with SDA SE as a strategic investment, and will support the company to completely serve the needs of the market," said Carsten Middendorf, Investment Director at Allianz X. "The potential of service-dominant architecture in the insurance industry is enormous and will take demand-driven customer communication to a new level in times of digital transformation."
Roland Weber, Board Member at Debeka Group, said, "SDA SE's approach is consistent, technologically superior and secure. It enables 360-degree customer understanding and has what it takes to become a leading industry standard."
"The fact that insurance companies competing on the market support our approach shows us that we are on the right track," added Ralf Steinmeister, Managing Director of SDA SE.
"So far, insurance companies have primarily relied on in-house approaches and their own architectures for digital transformation," explained Stephan Hans, Managing Director of SDA SE. "These isolated solutions entail various disadvantages. They cover a great depth of the value chain, are expensive, and often do not take into account the know-how available on the market as a whole."
"We see our involvement with SDA SE as a strategic investment, and will support the company to completely serve the needs of the market," said Carsten Middendorf, Investment Director at Allianz X. "The potential of service-dominant architecture in the insurance industry is enormous and will take demand-driven customer communication to a new level in times of digital transformation."
Roland Weber, Board Member at Debeka Group, said, "SDA SE's approach is consistent, technologically superior and secure. It enables 360-degree customer understanding and has what it takes to become a leading industry standard."
"The fact that insurance companies competing on the market support our approach shows us that we are on the right track," added Ralf Steinmeister, Managing Director of SDA SE.
About SDA SE Open Industry Solutions
SDA SE offers companies a digital service platform with a unique architecture, namely, service dominant architecture. This architecture is continuously being developed in a network of leading service scientists worldwide. The service platform is built upon the principles of openness and cooperation, and facilitates collaboration with external partners. The value-added services of the platform can easily be made available to end customers via suitable touchpoints.
SDA SE was founded in 2016 in Hamburg on the initiative of Prof. Dr. Markus Warg, Head of the Institute for Service Design in Hamburg, and Jens Stäcker, CEO of msg nexinsure ag. Together with Dr. Christian Bielefeld, CIO of SIGNAL IDUNA, they are members of the Board of Directors. The company is managed by Dr. Stephan Hans and Ralf Steinmeister.
SDA SE was founded in 2016 in Hamburg on the initiative of Prof. Dr. Markus Warg, Head of the Institute for Service Design in Hamburg, and Jens Stäcker, CEO of msg nexinsure ag. Together with Dr. Christian Bielefeld, CIO of SIGNAL IDUNA, they are members of the Board of Directors. The company is managed by Dr. Stephan Hans and Ralf Steinmeister.
About Allianz X
Allianz X is the digital investment unit of the Allianz Group, one of the world's leading insurers and asset managers, and part of the Group’s Renewal Agenda. Allianz X invests in digital growth companies that are part of our ecosystems related to insurance: Mobility, Connected Property, Connected Health, Wealth Management & Retirement, and Data Intelligence & Cybersecurity. We provide an interface between portfolio companies and the digital ecosystem within Allianz as well as drive innovation across Allianz’s operating entities and global lines of business.
About Allianz
The Allianz Group is one of the world's leading insurers and asset managers with more than 100 million retail and corporate customers in more than 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 754 billion euros on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage almost 1.7 trillion euros of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we hold the leading position for insurers in the Dow Jones Sustainability Index. In 2019, over 147,000 employees achieved total revenues of 142 billion euros and an operating profit of 11.9 billion euros for the group.
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