Allianz develops digital portfolio

Allianz Group is investing further in digital business models by announcing it will become the insurance partner of heycar for the next five years.

Heycar, owned by Mobility Trader Holding, is a digital platform for used car sales and add-ons such as warranty and flexible purchasing options like financing or leasing.

Allianz is making the investment through its digital investment unit, Allianz X, and will integrate its own insurance products and services into the platform.

Nazim Cetin, CEO of Allianz X, said: “We see healthy and sustainable growth potential in an OEM-backed, digital used car sales platform that covers both online and offline sales. As more sales move online, customers need a partner they can trust to deliver high quality. That’s exactly what they’ll get with heycar and Allianz.”