Allianz Partners, with its Allianz Automotive arm, has signed a partnership agreement with UK-based insurtech Wrisk.
The goal of the partnership is to jointly offer new automotive insurance products on Wrisk’s mobile app. In addition, this will be delivered with car manufacturers at the point of sale.
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Wrisk and Allianz working together
Allianz Automotive works with over 40 brands and it brings them together with the mobile solutions of Wrisk.
Wrisk’s platform offers transparent and flexible insurance solutions that can adapt to fit customer needs. Monthly subscriptions break the traditional annual renewal cycle. Furthermore, a personalised Wrisk Score provides insights into the customers’ own insurability.
Stephan Ruby, chief sales officer of Allianz Automotive, said: “The partnership will be a catalyser for digitalisation and simplicity. For Allianz Automotive, partnering with an insurtech like Wrisk gives a tremendous opportunity to offer customer-centric solutions in a transparent and simple way, which is in line with the overall Allianz strategy.”
Niall Barton, CEO and co-founder of Wrisk, added: “We’re big believers in the insurance industry’s potential for innovation. Working with Allianz Automotive has been really rewarding thanks to their agility and commitment to deliver radically improved solutions for customers. This is a prime example of Wrisk’s strategy to develop collaborations with global insurers who have particular dominance in vertical sectors, where together we can unlock new opportunities for them and their B2B2C partners through a mobile-first, connected customer experience.”
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By GlobalDataAt first, the partnership will focus on the UK. It aims to set up the firms to deliver next-generation car insurance products.
Starting with contents insurance, Wrisk has expanded its offering to serve insurance needs across different aspects of people’s lives. It also works with partners such as BMW, Hiscox, Moneybox, RAC and Munich Re.
Wrisk also helped launch a representative group, Insurtech UK.
The industry representative body will become a formal association in 2019. It will aim to support the growing insurtech sector in the country.
Additionally, Insurtech UK will engage with regulators and also work with incumbents to address the issues being faced by the insurtech sector.
