In the spring of 1997, a lawsuit was filed against several European insurers in New York. The companies were accused of failing to pay out life insurance policies of Jewish customers dating from before the end of Nazi rule. Allianz attempted to clarify these accusations and to do justice to its historical responsibility.
In April 1997, Allianz set up a "Helpline for Holocaust Inquiries" in order to provide fast and unbureaucratic information. Only a very small number of Allianz Leben policies were discovered that had evidently not been paid out. In each of these cases, the company made an offer of payment. Allianz Leben also commissioned a financial auditing firm to carry out an independent study of its archives.
Since 1998, Allianz has been an active founding member of the International Commission for Holocaust Era Insurance Claims (ICHEIC). The company has also been involved in the Stiftungsinitiative der deutschen Wirtschaft (Foundation Initiative of the German Industry) since 1999.
As early as February 1997, Allianz commissioned the economic historian Gerald D. Feldman of the University of California at Berkeley to research the company's history during the Nazi period. His findings appeared in a scholarly study published in German and English in 2001.