Banking group and insurer announce partnership

Banking group and insurer announce partnership | Insurance Business

Banking group and insurer announce partnership
Westpac General Insurance has announced that it will expand its product line-up under a new agreement with Allianz.

Under the new agreement, Westpac General Insurance will consolidate its customer offerings by sourcing products from Allianz including motor, travel and business insurance.

The partnership will also see Westpac Group customers given access to Allianz-sourced products in the caravan and trailer, marine pleasure craft and farm insurance space and will also see the launch of new mobile and tablet apps to provider easier access and flexibility to customers.

Michael Winter, chief general manager of retail distribution for Allianz spoke in glowing terms of the partnership and sees the move as a “significant addition” to the insurers’ portfolio.

"Allianz is pleased to have been selected to provide a range of insurance products and new delivery channels to Westpac and its customers.

“Allianz’s agreement with Westpac is a significant addition to our existing suite of financial institution partners and represents the successful culmination of a large amount of work in putting together a compelling bid for the business."

Winter also revealed that “products will be sold under the Westpac Group brands and complement those that will continue to be underwritten by Westpac General Insurance.”

David Lees, BT Financial Group General Manager, Insurance and Investments believes the Allianz partnership is key to developing the Westpac brand in the insurance industry.

“Offering our own popular Home & Contents together with Allianz’s quality sourced products will enable us to support our customers with a comprehensive range of protection options. 

“The expanded range of options and new digital solutions will provide a one stop shop for customers to insure their valuable assets and belongings at a time and in a way that suits them.”

All products will be offered at Westpac branches, contact centres and online and access to the new products and channels will be phased in over the coming months.