Allianz Global Corporate & Specialty (AGCS), Allianz’s entity for large-scale corporate and specialty risks, has announced the launch of a new online marine insurance service designed for UK leisure vessel owners in collaboration with award winning ‘insurtech’ company Visicover.
Visicover is a unique web based service, which not only lets customers buy their policy online, but also enables them to fully self-administer their cover via the site at a time that suits them. This enables the customer to personalise the cover according to their specific needs, and allows for a radically new approach to risk rating.
The launch of the service for marine leisure vessels builds on the success of Visicover’s market leading online aviation product, which is already available in partnership with AGCS across 10 European countries including the UK. AGCS has a wealth of experience dating back over 130 years as a global leader in marine and shipping insurance for all types of marine risk, from single vessels and shipments to the most complex fleets and multination logistics businesses.
Andrew Whitehouse, Head of Marine, Regional Unit London for AGCS, said:“The marine insurance sector continues to undergo significant change. New technologies are enabling new distribution models, underpinned by greater insights into risk data. This initiative with Visicover aligns with Allianz’s ‘Digital by Default’ strategy by enabling a new platform for our marine products. It also helps us to explore ways to enhance the customer journey in an increasingly digital world.
“Marine insurance remains a key strategic area for AGCS and this launch demonstrates our continued commitment to providing innovative solutions for customers in this important area of risk.”
Jan Houlberg, Visicover CEO, said:“Clients expectations of insurance providers are becoming ever greater, shaped by their online experiences in other sectors. They want to be able to choose the cover that suits them at the time they need it, all delivered quickly and at a compelling price.
“Meanwhile, a well-designed, online self-service proposition provides data opportunities for insurance providers to gain hitherto un-dreamt of insights in to the risks they insure, knowledge which can then be used to greatly enhance their business decision making. The new marine leisure product will provide such insights, and we are pleased that its launch further strengthens our co-operation with AGCS.”