Allianz X overview

Allianz X is the digital investment unit of the Allianz Group. The firm is investing in digital growth companies that are part of the ecosystems related to insurance: Mobility, Connected Property, Connected Health, Wealth Management & Retirement, and Data Intelligence & Cybersecurity. Allianz X provides 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.

The company is tasked with identifying, building and scaling new business models in the InsurTech space. By tapping into their extensive network of partners and world-class talent, the company can launch new ventures from idea to market entry in less than 6 months.

Created in 2013, their focus is on finding business opportunities that add value to the insurer's current portfolio or building businesses to meet their requirements. In February 2019, the branch announced it had increased the size of its tech investment fund to €1 billion (up from €430m at launch), making it one of the largest corporate-backed ventures funds in Europe.

Allianz X have invested in a variety of InsurTech ventures since the company's inceptions. At present, the Allianz X portfolio has expanded to 28 companies of which 11 are unicorns and two were full acquisitions.

In 2017 Allianz X announced a $96 million investment in BIMA, a leading digital micro-insurer utilising mobile technology to serve low-income customers in Africa, Asia and Latin America. The investment made Allianz BIMA's sole insurance shareholder and the largest strategic shareholder overall.

Additionally, Allianz X invested $30 million in Kansas City-headquartered working capital marketplace C2FO in February 2018 and $35 million in Southeast Asian mobile platform Go-Jek in April 2018.

During March 2021 the company invested $75 million into Hong Kong based WeLab, a fintech company, to fund its expansion and its technological platform. The arrangement was for the two companies to create a deep strategic partnership, in which both would jointly develop digital products and solutions for wealth management and other areas.

Later in September 2021 Allianz X invested into GT Motive, a Madrid-based SaaS company that develops solutions for estimating and managing automotive insurance claims.

In July 2022 Allianz X co-led the $250 million Series F funding round for cyber and digital risks company Coalition, valuing the company at $5 billion. This followed an earlier announcement from parent company Allianz that it would be entering a multi-year partnership with Coalition to expand its cyber security business.

During October 2022 Allianz X announced it was acquiring 100% of Simplensurance, a digital broker solution also providing cross-selling solutions for e-commerce shops. Allianz X had previously been a strategic investor in Simplensurance.

Later in the same month Allianz X entered into agreement to buy Innovation Group, a UK-based claims and technology solutions provider to the insurance and automotive industries. The company also offers technology-based business process solutions.

Allianz X states the company will continue to support Innovation Group's growth and development. The company will also continue to operate independently, serving all its current customers.

In addition to committing capital, Allianz X focuses on developing partnerships between the portfolio company and one or more Allianz operating entities or global business lines. For example, Go-Jek has a partnership in place with Allianz Indonesia in which Go-Jek customers and drivers are offered Allianz insurance products and services.

Map showing the location of Allianz X

Munich, Germany

Need more insight?

Speak to us about commissioning some bespoke research.

Find out more

Key people

Sever Savanciuc Investment Associate
Axel Theis Executive
Nazim Cetin CEO
Catherine Dietrich Chief Financial Officer
Carsten Middendorf Chief Investment Officer