Allianz X, the digital investment unit of the Allianz Group, is investing in heycar, an international digital platform for quality used car sales. It’s an interesting move for an insurer since it gives them a range of insights into vehicle history, in-car generated data, breakdowns, recalls and more.
Existing investors include Volkswagen, Volkswagen Financial Services, and Daimler Mobility. Allianz Partners, a leading company in B2B2C insurance and assistance services, will become the insurance partner of heycar for the next five years in all existing and future markets. The cooperation will extend the heycar platform with Allianz insurance products and services by seamlessly integrating them into the digital customer journey.
Since its founding in 2017, heycar Group has evolved into one of the leading multi-brand, quality used car sales platforms in Europe. Following the initial rollout in Germany, it expanded to the United Kingdom and Spain. The digital B2C-platform provides customers with a wide range of quality used car offers, as well as add-ons such as warranty and flexible purchasing options like financing or leasing. In order to do so, heycar builds on strong partnerships with car manufacturers, dealers, and captive banks.
By partnering with heycar Group, Allianz is further committing to digital business models with potential to disrupt the mobility sector. Allianz’ integration into the platform will make available core motor insurance products and extend to a variety of add-on features, such as roadside assistance and warranty. In that way, heycar will become an holistic and customer-centric mobility provider covering both conventional offline dealership sales as well as increasing end-to-end online transactions. By teaming up with each other, heycar, car manufacturers, captive banks, and Allianz Partners can offer customers a trustworthy and digital car-purchasing experience.
“The extensive partnership with heycar demonstrates Allianz Partners’ digital capabilities and our strong commitment to digital business models. It proves once more that we are an attractive and reliable business partner to OEMs across regions, products and services, customers segments, and distribution channels. We see various opportunities to realize joint business potential with fully-embedded product solutions, expanding in existing markets and entering new ones,” said Tomas Kunzmann, CEO Mobility & Assistance at Allianz Partners.
“We see healthy and sustainable growth potential in an OEM-backed, digital used car sales platform that covers both online and offline sales,” said Nazim Cetin, CEO of Allianz X. “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.”