Allianz X backs GT Motive

Allianz X , the digital investments arm of Allianz Group, announced that it has entered into binding agreements with the shareholders of GT Motive , Mitchell International, and Einsa Print S.A., to acquire a majority stake in the company. The transaction is subject to the approval of the relevant antitrust authorities.

London-based GT Motive is a Software-as-a-Service (SaaS) company that develops solutions for estimating and managing automotive insurance claims, as well as maintenance and mechanical breakdowns. It serves business customers across the automotive, insurance, and fleet & leasing industries.

GT Motive’s tools and technologies enable a fast path to normality after a vehicle accident or mechanical breakdown, for example, by streamlining claims handling through more efficient and automated loss assessments. The company has a strong international footprint with presence in 28 countries, as well as a global network of technology and business partners, including most vehicle manufacturers.

“GT Motive provides highly-accurate data at competitive prices and one of the most integrative, customer-centric platforms on the market. We see enormous potential to scale it up into a hard-hitting heavy-weight. All it needs is some more muscle behind it—and that’s where Allianz X can help.” – Dr. Nazim Cetin, CEO of Allianz X.

“We have won the support of a business partner that is committed to digitalization and recognizes our contribution to the industry after many years of service and hard work. Our long-term vision requires commitment and investment. In Allianz X, GT Motive has found the best way to ensure that.” – Ángel Martínez, CEO of GT Motive.

Following the transaction, GT Motive will maintain its business model and operational autonomy. The company will retain its name, brand, and culture, and will continue to offer its full range of services to all clients, including Allianz.