German group Allianz has become the latest financial institution to choose Singapore as location for its new cutting edge lab, further enhancing the city-states reputation as Asia's leading fintech hub.
For the Munich based group it is the first dedicated digital space for them in the Asia-Pacific region. In the «Asia Lab» Allianz is hoping to develop innovative customer propositions in healthcare, mobility and smart city-living for Allianz’s 18 million customers in the region, the firm said in a press release.
With an impressive starting team of 10 technology specialists and data scientists, the Asia Lab will also aim to work closely with Asian startups, enterprises and institutions to share insights and expertise, as well as incubate and develop market concepts and prototypes.
Support From MAS
Established with the support of the Monetary Authority of Singapore (MAS), the lab will sit within Allianz’s regional headquarters in Singapore’s Asia Square – an integrated approach to foster deeper collaboration with business teams and drive seamless adoption of next-generation ideas.
«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,» said Leong Sing Chiong, Assistant Managing Director, Monetary Authority of Singapore.
(Pictured above: George Sartorel, CEO, Asia Pacific, Allianz; Sopnendu Mohanty, Chief Fintech Officer, MAS; Ruediger Schaefer, COO Asia Pacific, Allianz; Raymond Au, Head of DataScience Asia Pacific, Allianz; Roman Braendli, Regional Manager of Innovation, Asia Pacific, Allianz)
