Croda Presentation
Many thanks for the opportunity to meet you and present our Allianz offering on Liability to Croda and Marsh. The team and I are committed to support you in your risk management journey, working alongside Marsh, by delivering the best of Allianz to you. AGCS has a reputation built upon technical underwriting ability, as well as multinational, claims, risk consulting and client services. We understand the business of risk, and more importantly we understand your risk.
Croda has come a long way in shifting their focus from a traditional speciality chemical company to a dedicated Consumer Care and Life Sciences company. We appreciate your focus on sustainability and innovation as a main driver for future growth. ESG being a main focus at Allianz, we are aligned with Croda’s commitment of being the world’s most sustainable supplier of innovative ingredients.
This document is giving you an update on AGCS today detailing, multinational, and claims offering to Croda . We will also walk you through our Digital Customer Interaction portal that supports the implementation of our multinational programmes. We are happy to address any questions you may have and looking forward to discussing this with you in more details.
Hajar Bousfiha
Key Account Manager
Our pledge to you
- Partnership: A trusted, financially strong, stable partner delivering value and expertise to you and your clients, long term.
- Excellence: A commitment to put our clients and brokers first through true customer centricity.
- Expertise: Deep expertise and insights to create the best client solutions, globally and locally, with 100% integrity.
- Results: Helping clients maximise value by unlocking the best of Allianz, from insurance to asset management.
- Industry focus: Global industry solutions with people who understand your business and bring you the best of the Allianz world.
- Innovation: Working together towards key, relevant goals, including ESG, Green Solutions and ART.
- Data and Analytics: Pinpoint partners, maximising data and relationships for the best possible client solutions.
- Quality and Compliance: Contract specialised policies and globally-compliant international insurance solutions.
- Level Playing Field: Working with our brokers in equal partnership, prioritising constant communication.
- Thought Leadership: Consistently evaluating existing and emerging risks, loss trends and sharing knowledge.
What makes us different?
We reach beyond traditional solutions, to address your unique risks.
Underwriting Market Leader in Your Sector
Our technical insurance expertise in your industry sector gives us an ability to deliver a market leading product and provide real longterm value to your business. Our current portfolio includes €15m of Tier 1Pharmaceutical clients, €5m of Clinical Trials, and a further €10m of Tier 2 Pharma and Chemical risks. This experience means we truly understand complex risks, we harness insights from data, develop new forward-looking pricing tools and create a harmonised global product frameworks to better serve you.
Together, this allows for effective transfer of risk between our organisations. We have reviewed the current insurance structure and captive involvement and it is probable that we will offer a programme that does not require any upfront form of collateral recognising the balance sheet strength of both your captive and the parent company. This is subject to review when updated data is received in respect of the forthcoming renewal.
Allianz Multinational:
Global mindset, local solutions
AGCSonline aims to ensure an optimal customer experience by offering a new and enhanced self-service platform for customers. This will enable AGCS to interact and communicate faster and more easily with our customers and be positioned in the future to deliver leading digital solutions to the market.
Current Features
- Dynamic global program implementation status tracking, local policy views & report summaries
- Document Hub
- Self-serve client access management & provisioning
Benefits
- Easy to use, intuitive interface
- 24/7 accessibility
- Real-time program policy data & documents
- Easier tracking of implementation status
- Increased scope of available documents
Product Outlook 2H 2022
- On demand Global loss run report creation
- Claims trend reports
- Risk Consulting reports & recommendations management/tracking
- Axco Market Information access
- Direct Broker access management
These dates and deadlines are key guidelines only in respect of the implementation of the local policies and this does not encompass other deadlines and dates applicable to the Master Policy
Milestone Slippage
For the implementation of any renewal program to ACGS, these Milestones are achievable but challenging. Any slippage in attaining of the early Milestones would produce a similar slippage in future Milestones
Fortnightly calls with post inception Stewardship meeting
Weekly calls with Marsh until the programme and up and running to discuss and address any outstanding matters. Post inception stewardship meeting to ensure IMI Plc is happy with overall service.
It is important to note that the target policy issuance date is Client Inception Date, however each of the parties should deliver all information on time and we have counted in some safeguard dates in the case of delays from client or broker.
AGCS Claims at a glance
Insurance is truly a people business.
Our claims team is acting at the forefront of AGCS to ensure timely communication, transparency, outstanding service delivery and swift resolution.
17 Claims Global Practice Groups with the top experts from our global organisation ensure the settlement of large complex claims, e.g. for cyber, business interruption or class actions.
650+ experts
in worldwide locations focusing exclusively on industrial, corporate and specialty claims
10+ years
average claims adjusting experience of our handlers
165,000+
claims handled per year
€4bn+
average annual claims payments
Why Allianz Risk Consulting?
- Global Network - We are a global network of over 100 Engineers with coverage in all territories
- Flexibility of Approach - We are a truly consultative engineering service, offering innovative solutions to our clients often complex problems
- Flexibility of Codes - Engineering programmes delivered to NFPA codes, local codes or clients individual – loss prevention standards
- Sector Expertise - Vast global experience in numerous industries built up over many years
- Successful Transition - Many examples of successful client transitions to ARC from other insurers and loss control providers
- Strategic advice & solutions - ARC play a proactive client partnership role in focusing the programme and working with stakeholders to share knowledge and experience to all parties’ mutual benefit
- Long term relationship - ARC desire a long term relationship built on mutual trust and support. We have many examples of successful partnerships with our clients embedded over many years. References are available where required
- Risk management services - A variety of risk management services are available to be tailored to suit client requirements
- Quality and Consistency - Property engineers are Allianz certified and comply with company practices and procedures
Specialist Risk Resources and Services
The Account Engineer will explain, guide and advise on which specialist resources will compliment and add value to your existing loss prevention programme. We recognise that one size will not fit all and our goal is to work in partnership with you to maximise the improvement and impact on your risk profile of our tailored risk solutions to support your business objectives.
Examples of risk management tools available include:
- Using the AGCSonline, our clients can, amongst other things, access information regarding their loss control programmes in real time, download reports, update recommendations & notify us of impairments to fire systems
- Allianz AlertZ will automatically send out risk information and newsletters featuring risk bulletins, technical documents, lessons learned and other risk advice and publications
- Cyber risk has proven to be of increasing concern to our client’s and whilst hacking of IT for data and finance grab the headlines, there are exposures to IT systems running production equipment. ARC has employed a Cyber Risk Consultant to assist clients who may have concerns in this area
- Whilst the Account Engineering function will offer an overview of the business interruption potential at account level, and the effects on any linked locations, a more in depth study can be undertaken looking at the policies and procedures in place for Supply Chain Risk Management applying technics such as the European Foundation for Quality Management
- ARCFlex a more focussed client centric approach to risk consulting eliminating the need for repeat survey work
- The Allianz Property Risk Management Charter aids client’s to embed prudent Human Element practices and procedures throughout their organisation
Complex Claims Support
- Technical analysis of loss cases
- Based on information from insured and claimant
- Investigation of course of events and causality
- Contribution to decision on liability and cover
- Dialog with insured and/or claimant for further clarification (via Claims and Broker)
- On-site inspections
- Analysis of costs claimed
- Technical report as basis for decision by Claims
Underwriting Support
- Risk assessment of prospective new customers (desktop reviews)
- Gathering and translation of technical information
- Consideration of the entire supply chain
- Risk assessment updates for new activities of existing customers
- Risk assessment updates in renewal phase
- Participation in "beauty contest" events
- Risk dialogs with existing customers (headquarter or site visits)
Market Management Support
- Preparation of complex technical processes to support sales function
- Explaining the influence of technical processes on coverage and liability
- Support for client meetings
- Presentations on specific risks
- Added Value ARC
Risk Dialog with the Customer
- Triggered by client or AGCS
- Client, broker, UW, ARC Liability
- Dialog, not audit!
- Standard or customized agenda
- Understand customers business model and role in value chain
- Identify strengths and areas of improvement
- Be aware of previous losses and of customer's profitability
- Give feed-back in real time
- Goals are to lower the risk and to strengthen the ties with the client
Desktop Review (DTR)
- Process: Client - Broker - Underwriting ARC Liability
- Pre-binding assessment of technical risk of prospective new client
- Basis for UW's pricing and quote
- Information base: Broker's submission file, internet, reports by preinsurers
- Required data: Products/Services, customers, management system, claims history
- Risk can be technically unacceptable due to lack of information => GIGO principle
- Time pressure (response time) is challenge
- DTR contains recommendations for post-binding risk dialog
- Final decision about insurability lies with UW
Global Expertise
- Technical/Scientific: Mechanical engineering, civil engineering, chemistry, pharmaceutical, mining, oil & gas, railway, cyber risks, etc.
- Industry: Value chains, organisations, quality
- Regulatory: Industry-related laws, norms, standards, etc.
- Insurance: Policy outlines, liability law (basics) with the aim to translate technical and industrial findings into a language UWs and claims Lawyers can understand
Insurance Covers (sub-LoB's)
- Commercial General Liability (CGL / GTPL)
- Employers Liability (EL)
- Environmental Impairment Liability (EIL)
- EU Environmental Liability Directive / Biodiversity (ELD)
- Professional Indemnity (PI)
- Construction Liability
- Builder's Liability Insurance
- Automotive Recall & Extended Product Liability
- General Consumer Product Recall
- Contaminated Product Insurance (CPI - Global Pro)
- Business Interruption (BI) & Loss of Production (GPP)
- Clinical Trial Cover & Liability for Pharmaceuticals
- Cyber Risk Insurance (ICT)
- Facility Management Insurance (FM)
- Workers Compensation
- Mining
Croda Team
We believe in having an open dialogue with Croda and Marsh to find the right solution for your every need. We commit to continue to build our robust and transparent tripartite relationship and will deliver on our promise.
Your dedicated Key Account Manager (KAM), Hajar Bousfiha, will ensure effective service delivery to Croda via a single point of access to Allianz resources. She will ensure an integrated approach, from underwriting to multinational to claims to risk engineering.
Hajar will oversee the following:
- Coordination of the Allianz service in close liaison with all of the client team – this provides a structured approach to ensure rapid responses to any issues which that may arise
- Facilitate C Suite level engagement - customer centricity is one of the key pillars underpinning the Allianz Groups
- Arranging account review meetings with a structured agenda to cover all aspects of the AGCS and Croda relationship, including mid-term review, pre-renewal and post-renewal reviews
- Liaison with Croda, Marsh and AGCS claims on any major losses; claims scenario testing is an opportunity to meet and discuss potential stress points to ensure the wording response is as expected
- Regular engagement on an informal basis too!
We would like to be a key market for Croda. We have a good understanding of your risk and we are in a good position to support you in the future. We encourage stewardship meetings to discuss our multinational delivery with Croda and Marsh. In addition to standing items (for example – multinational, risk consulting, claims, etc.), we will provide updates on matters such as emerging risks, ESG, and any the latest risk thought leadership to support the growth and evolution of Croda.
Environmental, Social and Governance (ESG)
1.5°C Aligned Investment Portfolio
Proprietary investment portfolio committed to net-zero emissions by 2050, in line with 1.5°C (UN AOA, SBTi)
Coal Exit for Insurance and Investments
Bringing coal exposure of insurance and investment lines of business to 0% by 2040 latest
Renewable Energy in our Operations
Commitment to source 100% renewable electricity by 2023, reduction of operational emissions along 1.5°C pathway.
- ESG Board composed of Allianz SE Board Members responsible for the Group ESG strategy
- ESG Center of Competence (CoC) in Allianz Global Corporate & Specialty established in January 2014, responsible for Allianz‘ P/C business globally
- ESG is embedded in the global governance framework via Standards & Policies and core insurance processes (Underwriting, Risk Management) supported by a dedicated ESG desk (as part of the ESG CoC) and Communication
We hope to be your partner of choice and look forward to discussing our proposal with you. Thank you.
