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AGCS launches new online marine insurance service

AGCS launches new online marine insurance service | Insurance Business UK

AGCS launches new online marine insurance service

Allianz Global Corporate & Specialty (AGCS) has announced the launch of a new online marine insurance service designed for UK leisure vessel owners. The service was launched in collaboration with insurtech company Visicover, which allows customers to buy their policy online and fully self-administer their cover.

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

“The marine insurance sector continues to undergo significant change,” said Andrew Whitehouse, head of marine, regional unit London, for AGCS. “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. 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.”

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“Clients’ expectations of insurance providers are becoming ever greater, shaped by their online experiences in other sectors,” said Jan Houlberg, CEO of Visicover. “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 undreamt-of insights into 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 cooperation with AGCS.”