IntroductionAboutFinancialsIntegrated CommercialYour TeamWhy Allianz CommercialSolutionsESGTender Quotation
Allianz Commercial
In the UK, Allianz Commercial brings together the insurance business of Allianz Global Corporate & Specialty (AGCS) and the commercial insurance business of Allianz Insurance Plc and encompasses large-corp, specialty, mid-corp, digital/SME and engineering inspection. Worldwide, we are present in over 200 countries and territories either though our own teams or the Allianz Group network and partners. In 2022, the integrated business of Allianz Commercial generated more than €19 billion gross premium globally.
Many thanks for giving Allianz Commercial the opportunity to look at Element Materials Technology Group Limited tender for P&C.
Allianz Commercial is committed to building a long term relationship with yourselves. We are pleased to recognize that Kat Watson from our PI team knows your account already very well. Please note that our PI proposition is presented separately.
This document contains an overview of Allianz Commercial along with our answers to the tender questions for Casualty. We would of course be pleased to clarify any points further on request and would welcome the opportunity to discuss our proposal with you.
Please contact Katharina Motz at Allianz for further information or assistance.
Key Account Manager
PI Underwriter
About Allianz
Allianz Group at a glance
- With around 150,000 employees worldwide, the Allianz Group serves over 100 mn customers in more than 70 countries.
- On the insurance side, Allianz is the market leader in the German market and has a strong international presence.
- In fiscal year 2022 the Allianz Group achieved total revenues of approximately €152bn.
- Allianz is one of the world‘s largest asset managers, with third-party assets of €1.635 tn under management at year end 2022
Did you know?
Allianz is the Worldwide Insurance Partner of the Olympic & Paralympic Movements
We insure major Hollywood and Bollywood movies, including all 25 James Bond films, Marvel productions, Harry Potter, Pirates of the Caribbean and many blockbusters.
We insure the Gotthard Base Tunnel – the world’s longest railway and deepest traffic tunnel running through the Swiss Alps.
We insure the Union of European Football Association (UEFA)
We insured the last three structures to hold the title of world’s tallest building: Petronas Towers, Taipei 101 and Burj Khalifa and insure Burj Al Arab
Allianz Results
Allianz Ratings
zaAAA local
(October 2022)
All figures are related to Allianz Global Corporate & Specialty SE
Allianz Commercial
Allianz Commercial: A winning combination – bringing our best for businesses under one roof
- Expanded access to our products and solutions – in a seamless approach through an integrated team and one leader in each market
- Coordinated distribution and client relationship management teams
- A broader and more reliable appetite for risks across the Commercial segment, giving you more options to place cover
- Market-leading solutions across the full spectrum of Property & Casualty and Specialty lines plus Commercial Fleet
- A comprehensive product offering for midsized businesses, including Multinational programs, Cyber, and Entertainment
- Specialist risk insight for industry segments such as Financial Institutions, Construction, Technology, Media & Communications, and Green Energy
- Security and stability, backed by Allianz’s financial strength ratings
Our Allianz country CEO's will play a leading role in shaping Allianz Commercial in each of our individual markets. They will be working closely together with one leader per country or region representing one market facing team for Allianz Commercial.
In the UK, your Allianz Commercial management team contacts are;
Commercial Managing Director for UK
Commercial Managing Director United Kingdom
Allianz Commercial in the UK
Head of Distribution, London, UK
Your team
We promise to provide you access to all relevant resources within Allianz. Most of the team at Allianz know your business already and with that can build on existing relationships.
Key Account Manager
(Maternity Leave)
Why Allianz Commercial
At Allianz we recognize and understand the unique challenges you and your business face. And as a leading global corporate insurance carrier, we have the network and expertise to help. Find out why we’re best placed to help with insurance solutions.
Underwriting
Claims
Multinational
Allianz Risk Consulting
Allianz Risk Transfer
Global Industry Solutions
We excel in underwriting
Our profound technical insurance expertise and industry knowledge allow us to provide you with solutions tailored to your needs.
In underwriting your risks, we stay true to our principles. It ensures we take those vital core competencies which you rely upon further.
The better we are at truly understanding complex risks, the better we can serve you. From harnessing insights from data, developing new forward-looking pricing tools or creating a harmonised global product framework, to practice groups leveraging shared expertise on specific risks or sectors, the goal is to provide market-leading solutions to you.
Claims
Understanding Your Needs
At Allianz Commercial, our Claims philosophy is solution-oriented.
We’re committed to finding preferred solutions with big picture thinking in respect of large and complex policies, building trusting relationships with you based on continuity of experience:
- We value an honest dialogue
- Transparency of communication
- Consistency, speed and ease of service delivery
Capabilities
As an international lead insurer, our 600+ Claims handlers and Global Practice Groups offering specific industry & Claims expertise are there to drive preferable outcomes for our customers.
- 600+ Allianz Commercial Claims handlers over 30 countries and network partnerships in other locations allow us to service clients in more than 200 countries and territories
- 6 regional teams ensure proximity and local expertise
- 16 Global Practice Groups offering specific industry and Claims knowledge
Attitude
Our Claims philosophy is solution-oriented: we value an honest dialogue.
We work tirelessly to provide clarity and eliminate ambiguity, prioritizing a ‘no surprises’ culture.
- We’re committed to finding preferred solutions with big picture thinking in respect of large and complex policies, building trusting relationships with you based on continuity of experience
- 0.3% and 1.7%* of cases in litigation 1st vs 3rd party
Settlement Experience
Our Claims settlement process is based on upfront and regular communication.
We explain our Claims process, timelines, and requirements upfront – to give you peace of mind at every stage of your Claims journey.
- In our annual net promoter score survey, clients and brokers who have had an experience with Claims 3 times more likely to recommend Allianz Commercial
- We offer upfront payments for 1st party Claims
Value-adding Services for Key Clients
We discuss and implement client-specific Claims Protocols and dedicate experienced Claims experts to ensure we meet your business needs.
In 3rd party Claims we understand your unique requirements and support you over the long term.
- We offer a digital interaction via our customer portal displaying time-accurate and meaningful Claims information
- Claims insights and trend updates
Allianz Multinational
Wherever you operate globally, Allianz Multinational is there to protect your business and secure your future. We’ve been supporting the business initiatives of our global clients since 1893, and are really proud of partnerships that we’ve built over the last 130 years.
Providing risk solutions, expertise and advice tailored specifically to your needs, we are there to help you and your teams navigate the complex risks that impact your business, wherever you are in the world.
Digital solutions providing transparency to support management of programs globally.
Allianz Risk Consulting
- Global Network - We are a global network of over 100 property 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
Allianz Risk Consulting Property offers our clients comprehensive risk engineering and the key services include:
- Site surveys for property, business interruption and construction
- Reviews of loss control management programs
- Business Interruption analysis
- Business Continuity Management
- Technical training and knowledge transfer
- Plan & project reviews
- Testing & commissioning of fire protection systems
- Fire protection impairment management
- Loss investigation surveys
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 My Allianz Commercial, 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
Alternative Risk Transfer
Integrated/Structured Solutions
Customized solutions provided on a multiyear, multi-line basis designed to complement or replace a client’s existing monoline program. Flexible integrated capacity can be utilized at different attachment points depending on client needs and locks in rates over the program term. Can range from being risk transfer to risk financing motivated, or a blend thereof.
We also provide direct Virtual Captive solutions that offer many benefits of a captive for clients that do not have one.
Fronting Solutions
Providing access to Allianz’s vast network of insurance carriers and partners, these solutions involve multi-year commitments and utilize proprietary techniques to minimize collateral requirements and reduce costs to clients.
Structured Captive Reinsurance
Providing flexible, structured reinsurance solutions to captives, again on a multiyear, multi-line basis to provide stability over time, while retaining the flexibility to deal with changing situations. These can be offered together with or independently of captive fronting programs.
Special Risks
Insurance or captive reinsurance for special risk outside of Allianz Commercial traditional Property and Casualty (P&C) lines that can be underwritten, or risk financed.
Capabilities
- Global Fronting capability expands across 200+ countries and on a multi-line and multi-year basis, if needed.
- Capacity typically €25mn per occurrence or €50mn per annum but can be higher depending on structure.
- Broad range of P&C lines of business or a combination thereof.
- Can include traditional and non-traditional elements, including parametric triggers.
- Transactions up to 5 years tenure, with ability to extend.
- Typical minimum premium (after profit commission) EUR250,000 p.a.
- Risk Financing structures work best where traditional ROL > [10%].
Underwriting Philosophy
Our underwriting process is essential to achieving the right balance between traditional risk transfer and coverage not available elsewhere. We ensure the right experts provide the right offering for you through:
- Innovative solutions and leading-edge structuring and analysis.
- Standalone underwriting capacity and authority.
- A one-team approach across global functional teams.
Our Digital Offering: My Allianz Commercial
Current Features
Benefits
Coming Soon
Global Industry Solutions
Every business is different. That’s why we have specialist teams across various industry sectors to offer expert support as per your individual requirements.
Through this single point of contact, you will gain access to cutting-edge products, services and advice specifically cultivated with your core line of business in mind.
Global industry solutions bring the best of Allianz to our clients in a holistic way.
Bespoke business solutions for your unique risks
We have global reach underpinned by local knowledge; a combined depth and breadth of expertise that allows us to go further.
You are our priority. Your approach, your needs, your risks. That’s why we personally take the time understand your business, and propose the best solution to support success.
.jpg)
Environmental, Social and Governance (ESG)
Background
- 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
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.
Net-zero Emissions commitment
- € 131.5 bn sustainable investments (proprietary investments)
- € 1,282.9 mn revenues from sustainable solutions for P&C - In 2022, we generated revenues totalling €1,282.9 mn from 103 Sustainable insurance solutions and from Insurance solutions with a sustainability component through our Sustainable Solutions program in P&C. (2021: € 1,215.6 mn from 118 solutions)
Renewable electricity and emissions
- 89% renewable electricity of own operations
- 1.0 t CO2e per employee carbon footprint of own operations
- 16.2 mn t CO2e carbon footprint of proprietary investments (listed equities and corporate bonds)
- 46.5 mn t CO2e Total GHG emissions (Total Greenhouse Gas include emissions from proprietary investments and own operations)
Property and Casualty Tender Quotation
DOWNLOAD QUOTATIONWe hope to continue as your partner of choice and look forward to discussing our proposal with you. Thank you.
