Team of 10 to focus on healthcare, mobility and smart city-living propositions for customers
German group Allianz has become the latest insurer to set up an innovation lab in Singapore.
The insurer’s new Asia Lab was established with the support of the Monetary Authority of Singapore (MAS) and will focus on developing connected healthcare, mobility and smart city-living propositions for its 18 million customers in the region.
With a starting team of 10 technology specialists and data scientists, the Asia Lab will work with regional startups, enterprises and institutions to share insights and expertise, as well as incubate and develop market concepts and prototypes.
Allianz Asia-Pacific chief executive George Sartorel (pictured) said: “Customer centricity stands at the heart of everything we do, and technology presents an incredible opportunity to empower the customer experience. The Asia Lab will enable Allianz to redefine our customer proposition and address the evolving needs of Asian consumers.
“The Asia Lab also anchors us right in the hub of regional innovation. We value the support from the MAS in this initiative, and aim to collaborate and work closer with Singapore’s fintech community ahead.”
MAS assistant managing director Leong Sing Chiong said: “The Asia Lab will directly contribute to MAS’ strategy to pursue innovation-led growth, and reaffirm Singapore’s position as a leading insurance market.
“Allianz’s initiative will help to provide cutting-edge insurance solutions for Asian consumers, and deepen Singapore’s innovation ecosystem. We look forward to continued collaboration with Allianz, and to supporting their digital initiatives.”