Allianz launches innovation lab in Singapore to work on health and smart city living

The Allianz and MAS teams at the Asia Lab launch. Photo credit: Allianz.

Insurance giant Allianz announced today it is opening Asia Lab, a space for digital innovation and advanced analytics in Singapore.

The lab will start with a team of 10 technology specialists and data scientists.

The lab is established with the support of the Monetary Authority of Singapore and will be housed in Allianz’s Asia headquarters in the city’s central business district.

The company wants to develop solutions in connected health care, mobility, and smart city living. It will start with a team of 10 technology specialists and data scientists and will collaborate with startups and institutions to share insights and expertise.

The lab will try to develop products and concepts the company can bring to market. It will also connect the local tech ecosystem to Allianz’s international teams that work in innovation and data science.

Like banks, insurance and financial services companies are moving to make the most of the region’s startup growth. AIA has already launched a health-focused startup accelerator with Konica Minolta, while AXA is working with ride-hailing app Grab to develop telematics solutions for passenger and driver safety.