Allianz launches ‘unique’ marine insurance service for UK leisure vessels

A new online marine insurance service for UK leisure vessels has been launched, with underwriting capacity and claims management provided by insurer  Allianz Global Corporate & Specialty (AGCS).

Allianz’s entity for large-scale corporate and specialty risks AGCS has designed the unique web based service in collaboration with insurtech Visicover.

The aim is to enable marine leisure vessel owners to buy their policies and fully self-administer cover online according to their specific needs, and allow for a radically new approach to risk rating.

The launch of the service for marine leisure vessels follows that of Visicover’s online aviation product, which is already available in partnership with AGCS across 10 European countries including the UK.

“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,” said Andrew Whitehouse, head of marine, regional unit London for AGCS.

“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 chief executive officer, added: “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.”

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