TRANSACTION: GCA Altium advises General Atlantic on the sale of ControlExpert to Allianz
Headquartered in Langenfeld, Germany, ControlExpert partners with more than 130 insurances, car dealerships, repair shops, leasing and OEM partners at 17 locations across the world. The company offers an end-to-end digital platform for companies to digitize their motor claims management. It has emerged as a clear leader in motor claims management in Germany and continues to show strong growth in international markets. The strategic investment offers Allianz the opportunity to introduce significant technical improvements to its claims handling and to further expand on its positioning as an innovative general insurer. ControlExpert will maintain its business model and operational autonomy and retain its name, brand and product offering.
“We are truly delighted that our repeat client, ControlExpert, and Allianz have joined forces. This lighthouse transaction will not only drive digitalization at Allianz but has the potential to revolutionize the entire industry. It also emphasizes GCA’s continued position as a frontrunner in the European InsurTech M&A market and we continue to see very strong strategic interest for market leading InsurTech businesses that have the potential to be true digital disruptors,” said Sascha Pfeiffer, Member of the Board at GCA Altium.
The transaction was signed in March 2020 and is subject to the approval of the relevant antitrust authorities. Terms of the transaction were not disclosed.