New digital insurance services for home and health
Smart Home market test, incl. emergency assistance services for the home
Agreement reached on cyber security partnership
PRESS RELEASE - Munich/Bonn. June 6, 2014
Allianz and Deutsche Telekom are joining forces to launch digital services for retail and corporate customers. For "connected life" services, the partners will combine the latest information, communications and sensor technology with insurance and service offerings for retail customers. As far as corporate customers are concerned, the two companies will offer a combination of holistic cyber security solutions and insurance cover.
"Our customers are making more and more use of digital technology in their day-to-day lives. We want to create a seamless package by integrating our services, such as advice, insurance cover and damage repair, to make their lives easier," says Christof Mascher, member of the Board of Management of Allianz SE who is responsible for Allianz Worldwide Partners and Operations. "Digitalization allows us to offer innovative services that will bring us closer to our customers than ever before."
Telekom invested in new technology and cloud-based solutions early on. This commitment to innovation is now paying off," says Telekom Board member Reinhard Clemens. "Cutting-edge digital business areas such as connected insurance services can only be tapped into if we use the expertise of both partners. Together, we can develop service-oriented, secure offerings that neither partner could implement on their own."
Emergency assistance services for the home
For retail customers, Allianz and Deutsche Telekom are collaborating on the development of digital "connected home" services – initially in Germany, but with plans for roll-out in other European countries at a later date. An integrated solution consisting of technology, assistance services and insurance will allow customers to monitor their own home using sensor technology and their smartphones. If something goes wrong - i.e., if a water pipe bursts - the sensors not only automatically inform the user via his/her smartphone, but also notify Allianz's emergency hotline. If necessary, Allianz then organizes tradesmen and settles the bill directly. Telekom's "Smart Home" solution, combined with the "Allianz Assist" emergency assistance service for the home, will be on sale in selected Telekom shops from mid-June onwards.
The aim is to use the same idea to develop digital solutions for "connected health" - e.g. enabling older people to live independently.
The technical basis for the "Connected Life" developments is provided by tried-and-tested digital platforms for the connected home, such as "QIVICON", and the mobile "SureNow" insurance portal developed by Telekom's Innovation Laboratories, the company's central research and innovation organization. At Allianz, the new Allianz Worldwide Partners business unit is spearheading the development of service and insurance components.
Cyber Security Partnership for major customers and small and medium-sized enterprises
The demand for security solutions among corporate clients is higher than ever before, as recent studies conducted by Allianz and Deutsche Telekom - the 2014 Allianz Risk Barometer and the Deutsche Telekom Security Report - confirm. Both companies currently offer trend-setting cyber security products and services on their respective markets. Now, they want to join forces to offer these products and services together.
The new Cyber Security Partnership will see Allianz and Deutsche Telekom develop integrated solutions for damage prevention, network security and risk management. This will provide customers with the first ever end-to-end cyber security solution.
Large corporate accounts of Allianz can already obtain extensive protection against major cyber risks by taking out the "Allianz Cyber Protect" modular insurance solution offered by Allianz Global Corporate & Specialty (AGCS). Indemnity is provided both for damage incurred by the company itself if it falls victim to Internet crime (including any loss of income resulting from an interruption of operations, the cost of informing customers, forensic IT investigations, data recovery, crisis communication to protect its reputation) and for liability damage. The maximum sum insured of 50 million euros is currently the highest capacity provided by a sole insurer available on the market.
Deutsche Telekom provides its customers with extensive security solutions that it is constantly expanding. One example is Advanced Cyber Defense. This modular concept allows users to react to attacks in a faster, more efficient manner by combining well-known preventative measures with the intelligent analysis of attack methods and their defense (prevention – detection – reaction). This solution, developed by T-Systems specifically for large corporate clients, also facilitates the cross-company exchange of information on cyber risks, e.g. between the Computer Emergency Response Teams (CERTs) of participating corporations, or with Telekom's recently opened Cyber Defense Center.