Allianz, Microsoft partner for insurance innovation

This week's highlights: Lyft pulls e-scooters from 6 cities , American Express is pushing for network parity, Citi debuted its online high-yield checking account, and much more

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November 23, 2019 Allianz partnering with Microsoft to drive digital transformation Allianz will move parts of the global insurance platform Allianz Business System (ABS), which provides business processes for contract management and claims processing, to Microsoft's Azure cloud. The partnership will also see Allianz develop new Insurance-as-a-Service (IaaS) offerings. Syncier, the IaaS startup founded by Allianz, will offer a new open-source solution built on Microsoft Azure, dubbed ABS Enterprise Edition. The insurance industry has, by and large, struggled to digitally transform — a state of affairs that can open a large addressable market for Syncier's new offering. Business Insider Intelligence's Mekebeb Tesfaye has the full story. BRIEFING HIGHLIGHTS Lyft pulls e-scooters from 6 cities Lyft will end e-scooter operations in six US markets and lay off around 20 staff members in its bike and scooter department. This shift comes after the company posted a $464M net loss in Q3 2019. Read More → American Express is pushing for network parity American Express is is offering some businesses that don't accept Amex cards sign-on bonuses and discounts on its transaction fees to win them over. Read More → Citi debuted its online high-yield checking account Citibank is launching a new digital high-yield checking account, dubbed "Citi Elevate Checking," available to US customers outside its branch network. Read More → Genetic testing firm launches Afib research app on Apple devices Genetic testing firm Invitae launched a new app aimed at gathering heart health data from the Apple Watch and Health app. Read More → Amazon plans to open a supermarket format that uses its Go technology as soon as 2020 Amazon may use its Go technology – which allows consumer to leave a store without physically checking out – in new store formats as soon as 2020. Read More → Chime is set to quadruple its revenue in 2019 Chime is set to quadruple its revenue in 2019, and the neobank owes its strong customer totals to its lack of fees and aggressive marketing strategy. Read More → Elavon acquires Sage Pay for $300 million to grow its market share Elavon has announced plans to acquire Sage Pay, a payments gateway operating in the UK and Ireland, for $300 million. Read More → Apple may have to open NFC technology to other firms A German law would make Apple offer NFC technology to other firms – impacting Apple Pay since it doesn't currently offer its NFC technology to others. Read More → US lawmaker calls on Tesla to suspend Autopilot feature Sen. Ed Markey called on Tesla to disable its Autopilot semi-autonomous driving system until it can introduce safeguards that prevent improper use. Read More → PayPal is acquiring Honey to expand its services' reach PayPal is acquiring Honey for $4 billion in a move that could improve PayPal's value at checkout and give it utility early in the shopping journey. Read More → RESEARCH IN FOCUS The Digital Banking Ecosystem The banking industry is in the grips of an identity crisis. Leaders of the world's largest banks have begun describing themselves as technology companies with banking licenses. This report explores the incumbent banking landscape as a whole, and the third parties banks are calling on to help their transition to digital. Get the Full Report  → Latin America Fintech Snapshot: Brazil Latin America is experiencing a fintech boom — and Brazil, the region's economic powerhouse that's home to the world's fifth-largest population, is leading this revolution. This report examines the five factors that have created a fertile environment for innovation in Brazil, as well as the country's notable fintech segments, six fintechs to watch within those segments, and opportunities and challenges to fintech growth in the region. Get the Full Report  → Big Tech in Transportation Business Insider Intelligence examines the moves that Alphabet, Apple, and Amazon are making to gain a larger foothold in the transportation industry. We outline potential next steps each may take based on those moves. Finally, we highlight the different strategies legacy auto firms will use to better compete as big tech companies raise their profiles in transportation. Get the Full Report  → BECOME A MEMBER You can gain access to everything Business Insider Intelligence produces - ALL of our extensive research reports, newsletters, and data - when you claim your Business Insider Intelligence PREMIUM pass. 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