Thus, Allianz will move core pieces of Allianz Business System (ABS), its insurance platform, to Microsoft's Azure cloud and will open-source parts of the solution's core to improve and expand capabilities.
Syncier will offer a configurable version of the solution called ABS Enterprise Edition to insurance providers as a service, allowing them to benefit from one of the most advanced and comprehensive insurance platforms in the industry.
Syncier's ABS Enterprise Edition can handle insurance processes across all lines of business: property and casualty, life, health, and assistance. It can be customized for any insurance company, country and regulatory requirements. Insurers, brokers and agents adopting the platform can service clients and manage entire portfolios end to end in one system, gaining a unique 360-degree view of each client and the business.
To accelerate industry innovation, Syncier will also offer an Azure cloud-based marketplace for ready-made software applications and services tailored to the insurance sector. Such solutions could include, for example, customer service chatbots or AI-based fraud detection. The marketplace enables insurance providers to easily and quickly implement the available solutions in a plug-and-play manner.
Allianz uses ABS globally as a platform for all lines of business and along with Microsoft is committed to supporting the ABS Enterprise Edition long term as an industry solution. Today, ABS handles around 60 million insurance policies in 19 countries and is being rolled out to all Allianz entities.