Allianz Joins Insurance Prevention Consortium – The Spark

Allianz SE has become a member of The Spark and appointed Sirma Boshnakova to the organisation's global advisory board as insurers accelerate efforts to shift business models towards prevention strategies.

The Munich-based insurer joins Aon, Generali, Travelers and QBE Ventures in the consortium, which launched at the Monte Carlo Rendez-Vous in September 2025. The initiative aims to develop prevention-focused insurance products and reduce reliance on reactive claims models.

Industry collaboration on risk reduction

The Spark operates as a research and development platform where member companies work on proof-of-concept projects designed to reduce losses and build customer resilience. Members gain access to technology partnerships and frameworks for implementing prevention strategies across different insurance lines.

Sirma, who serves on the board of management at Allianz SE, says the consortium addresses structural challenges facing the sector. "The Spark launches at precisely the moment our industry needs transformative collaboration most," she says.

"By uniting global insurers, reinsurers, and technology partners around prevention, we're creating the foundation for sustainable growth in an era of unprecedented challenges."

The advisory board role gives Allianz influence over the strategic direction of research programmes and product development initiatives undertaken by the consortium. The company will participate in collaborative projects alongside other member firms.

Prevention as revenue strategy

Gil Arazi, Founder and Chairman of The Spark, established the organisation with Aon to convert prevention activities into revenue-generating operations rather than cost centres. The model centres on measurable outcomes that demonstrate financial returns from reducing claims frequency and severity.

"Sirma's leadership and Allianz's focus on measurable outcomes perfectly align with The Spark's mission - turning prevention into profitable growth for the insurance industry," Arazi says.

The consortium has developed a roadmap that spans multiple years and targets specific insurance segments where prevention technology can deliver quantifiable results.

Member companies contribute resources to joint research while retaining the ability to commercialise findings within their own operations.

Sherif Zakhary, Global CEO of Aon's strategy and technology group, says the addition of Allianz strengthens the consortium's capacity to implement changes across global markets. "We're delighted to welcome another leading firm to The Spark," he says.

"This growing re/insurance industry collaboration reinforces our shared commitment to transforming our sector through prevention-first innovation – and we look forward to working together to deliver measurable impacts for clients and communities worldwide."

Technology integration plans

The consortium provides member firms with access to technology vendors that have developed systems for risk monitoring, early intervention and loss mitigation. These tools include sensors, data analytics platforms and automated alert systems that aim to prevent claims before losses occur.

Allianz will work with other members to test these technologies in controlled environments before scaling deployments to customer portfolios. The collaborative structure allows firms to share development costs and implementation lessons while maintaining competitive positions in their respective markets.

The prevention laboratory model represents a departure from traditional industry associations by focusing on operational implementation rather than policy advocacy. Members commit resources to active projects with defined timelines and success metrics.

The Monte Carlo launch in September 2025 marked the formal start of The Spark's operations after months of planning between founding members. The organisation has established working groups focused on specific insurance categories including property, casualty and commercial lines.

Boshnakova's appointment to the advisory board gives Allianz a seat alongside executives from other member companies who guide research priorities and resource allocation decisions. The board meets regularly to review project progress and adjust strategic direction based on market developments and technological advances.

"Through strategic projects, research, and venture-building programs, The Spark enables insurers to co-create prevention-driven products, services, and models that deliver measurable business and societal impact," Sherif says.