Business

AGCS launches new marine insurance service with Visicover

The launch of the service for marine leisure vessels builds on the success of Visicover’s online aviation product, which is already available in partnership with AGCS

Allianz Global Corporate and Specialty (AGCS), Allianz’s entity for large-scale corporate and specialty risks, has launched a new online marine insurance service designed for UK leisure vessel owners in collaboration with Visicover.

Visicover is an insurtech that allows customers to purchase their policy online and fully self-administer their cover via the site at a time that suits them. It said this enables customers to personalise cover according to their specific needs, and allows for a new approach to risk rating.

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

Andrew Whitehouse, head of Marine, Regional Unit London for AGCS, said: “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.”

He added: “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 CEO, said: “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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