The recently established unit Allianz X has won Peter Borchers to become CEO as of October 1, 2016.
MUNICH, 08-Sep-2016 — /EuropaWire/ — 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.
1Groundbreaking, non-incremental innovations with the potential to significantly alter peoples’ lives.
The statements contained herein may include prospects, statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those expressed or implied in such forward-looking statements.
Such deviations may arise due to, without limitation, (i) changes of the general economic conditions and competitive situation, particularly in the Allianz Group’s core business and core markets, (ii) performance of financial markets (particularly market volatility, liquidity and credit events) (iii) frequency and severity of insured loss events, including from natural catastrophes, and the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) particularly in the banking business, the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates including the Euro/U.S. Dollar exchange rate, (ix) changes in laws and regulations, including tax regulations, (x) the impact of acquisitions, including related integration issues, and reorganization measures, and (xi) general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences.
No duty to update
The company assumes no obligation to update any information or forward-looking statement contained herein, save for any information required to be disclosed by law.