Allianz X to invest in SDA SE Open Industry Solutions

28 November 2019 — Cosmin CONCEATU
Allianz X, the digital investment unit of the Allianz Group, Debeka, msg group and SIGNAL IDUNA will invest in SDA SE Open Industry Solutions to support the development of new innovative digital services in the insurance industry.

SDA SE offers insurance companies a modular and quick way of setting up their own service platforms. Incorporating service-dominant architecture into its open-source platform, SDA SE allows companies to easily integrate existing IT systems and processes, onboard external partners and service providers, while retaining complete ownership of their data and analytics. The service platform is built upon the principles of openness and cooperation, and facilitates collaboration with external partners.

Stephan HANS, Managing Director of SDA SE, explained the fundamental principles of the platform:

"So far, insurance companies have primarily relied on in-house approaches and their own architectures for digital transformation. (...) These isolated solutions entail various disadvantages. They cover a great depth of the value chain, are expensive, and often do not take into account the know-how available on the market as a whole."

SDA SE was founded in 2016 in Hamburg on the initiative of Prof. Dr. Markus WARG, Head of the Institute for Service Design in Hamburg, and Jens STACKER, CEO of msg nexinsure ag. Together with Dr. Christian BIELEFELD, CIO of SIGNAL IDUNA, they are members of the Board of Directors. The company is managed by Dr. Stephan HANS and Ralf STEINMEISTER.

Carsten MIDDENDORF, Investment Director at Allianz X, commented:

"We see our involvement with SDA SE as a strategic investment, and will support the company to completely serve the needs of the market. (...) The potential of service-dominant architecture in the insurance industry is enormous and will take demand-driven customer communication to a new level in times of digital transformation."


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