Peter Borchers has been named the new chief executive officer of Allianz X, effective October 1.
Christof Mascher, a member of the management board of Allianz SE and chief operating officer of Allianz Group, said, “Allianz X will unlock strategic growth opportunities for Allianz in InsurTech and adjoining areas like blockchain, artificial intelligence, or virtual reality, addressing topics like mobility, health, and care. Peter Borchers has experience in digitization and I am glad he'll join Allianz.”
Solmaz Altin, the chief digital officer of Allianz SE, added, “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 moonshots are also possible and desired. We have allotted an annual investment budget in the double-digit million euros.”
Allianz X said that it will be identifying, building, and globally scaling new business models in the InsurTech space.
Learn more: https://www.allianz.com.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].