Allianz to invest in ControlExpert

Allianz X, the digital investment unit of Allianz Group, in cooperation with Allianz Germany, has entered into binding agreements with General Atlantic and other shareholders of ControlExpert for a majority investment in the company. The transaction is subject to the approval of the relevant antitrust authorities.

ControlExpert, a multi-national market leader in AI-supported automotive claims handling, partners with more than 130 insurance companies, car dealerships, repair shops, leasing companies and OEM partners at 17 locations across the world. The company offers an end-to-end platform for companies to digitalize and automate their motor claims management.

“Technical applications and platforms are crucial for capturing new opportunities in the digital era. ControlExpert has emerged as a clear leader in motor claims management in Germany and continues to show growth in international markets. We look forward to bringing together Allianz’s 130 years of experience in claims management and ControlExpert’s technological expertise to drive significant changes in the sector,” said Nazim Cetin, CEO of Allianz X.

"The cooperation with ControlExpert will enable us to settle automotive claims far more quickly in the future," stated Jochen Haug, Board Member and Chief Claims Officer at Allianz Versicherungs-AG. "Additionally, we look forward to deploying Artificial Intelligence in key areas such as image recognition and fraud prevention to provide new services and bespoke offers to our customers."

Following the transaction, ControlExpert will maintain its business model and operational autonomy. The company will retain its name, brand and identity, and will continue to offer its range of services to its clients including Allianz Germany.

"Our long-standing collaboration with Allianz has demonstrated that we share a common ambition in continuing to drive digitalization and customer-centricity forward. With its wide-ranging expertise and international focus, Allianz will support us in achieving further growth both in Germany and in the global markets. In this way, we will take a step closer to realizing our vision of drivers receiving fair compensation for damages on the very same day, anywhere in the world. In the future, it will be possible to handle claims and maintenance processes more quickly and easily, something which all our customers will benefit from," explained Nicolas Witte, Managing Director of ControlExpert.

"We are looking back on a fruitful partnership with ControlExpert. Since 2017, we have supported the company, the management team around Nicolas Witte and the founding family in rolling out their business model internationally and further institutionalize the company. We are grateful for the constructive and trusting cooperation and wish the company and its employees all the best," said Jörn Nikolay of General Atlantic.

The Allianz Group is one of the world's leading insurers and asset managers with more than 126 million* private 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 706 billion euros** on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage nearly 1.7 trillion euros** of third-party assets. Thanks to the systematic integration of environmental, social and governance criteria in our operations, business processes and investment decisions, we continue to be recognized as among the sustainable insurers in the Dow Jones Sustainability Index (September 23, 2022). In 2021, over 155,000 employees achieved total revenues of 148.5 billion euros and an operating profit of 13.4 billion euros for the group.

These assessments are, as always, subject to the disclaimer provided below.

*Including non-consolidated entities with Allianz customers.
** As of September 30, 2022

About Allianz X

Allianz X invests in digital frontrunners in ecosystems relevant to insurance and asset management. In just a few years, it has grown to a portfolio of more than 25 companies and AuM of over 2 billion euros. Allianz X has counted 11 unicorns among its portfolio so far. The heart and brains behind it all is a talented team of around 40 people. As one of the pillars of the Allianz Group’s digital transformation strategy, Allianz X provides an interface between Allianz Operating Entities and the broader digital ecosystem, enabling collaborative partnerships in insurtech, fintech, and beyond. As an investor, Allianz X supports mature digital growth companies to take the next bold leap and reach their full potential.

About Allianz Deutschland AG 

Allianz Deutschland AG operates in the P&C insurance, life insurance and health insurance segments. It helps its around 20 million customers to protect themselves against risks and to exploit financial opportunities. As the leading insurer in Germany, Allianz Deutschland AG offers comprehensive one-stop solutions tailored to the requirements of its customers in the fields of insurance, provision and asset management.

About ControlExpert

ControlExpert has been digitalizing and speeding up the manual processes in the field of automobile claims management since 2002. The company offers portal, AI-enabled and expert services to insurance companies, car dealerships, repair shops, leasing companies and automotive manufacturers. ControlExpert has over 800 employees, and is active at 17 locations across Europe, Asia and the Americas.

About General Atlantic

General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to build exceptional businesses worldwide. General Atlantic has more than 150 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, and Singapore.

Press contacts

Clemens Heitmann
Allianz X
Christian Weishuber
Allianz Deutschland AG
As with all content published on this site, these statements are subject to our cautionary note regarding forward-looking statements:

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