AGCS launches new suite of services

Allianz Global Corporate & Specialty (AGCS), the corporate insurance carrier of Allianz Group, is establishing a new business initiative, AGCS Services to provide value-added services to its corporate clients. The offering includes risk consulting, captive fronting and crisis management solutions.

AGCS is initially launching the new services offering in two core markets, Central & Eastern Europe (CEE) and the Mediterranean region.

AGCS offers traditional property & casualty insurance products for businesses across a wide range of lines of business as well as alternative risk transfer and capital market solutions.

Risk consulting and insurance services are often only available as part of insurance covers or programs, but AGCS is moving into offering “unbundled” services on a complementary “pay as you go” basis.

Depending on their individual needs, clients can access a comprehensive and growing portfolio of risk services – either unbundled or bundled into an insurance program – to optimize their companies’ enterprise risk management strategy and become more resilient.

Launching AGCS Services at the FERMA Forum 2019 in Berlin, Hartmut Mai, AGCS board member and responsible for AGCS’s regionals units CEE, Mediterranean and Africa, said: “Corporate risk managers need much more than traditional risk transfer in today’s complex and fast-changing environment. By introducing a suite of value-added services we enhance our offering and allow our clients a broader choice as they can now opt for specific service solutions. We can support and protect businesses across all stages of risks helping them predicting, monitoring and mitigating risk to covering financial losses and enabling an effective crisis response when disaster strikes.”

AGCS offers a variety of risk services leveraging its own expertise, technologies and data-driven insights in the area of risk management. The AGCS Services range will initially provide services focusing on risk mitigation, captive fronting and crisis management solutions through its separate entity, Allianz Risk Consulting. The services are delivered through AGCS experts and engineers complemented by third-party providers. AGCS is also developing services around industrial IoT (internet of things) technologies and supporting clients to manage their supply chain risks.

Initially these services will be available in the two pilot regions - Central & Eastern Europe and Mediterranean - with immediate effect.

“We are able to provide a holistic services suite, from traditional to innovative offerings, and we are launching them in an agile way – working closely with clients to explore and develop new initiatives,” said Tina Baacke, global head of AGCS Risk Consulting and project lead for AGCS Services. “First feedback from our clients is very encouraging and we welcome customers who are interested to explore or even co-create new services with us.”

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