Allianz Insurance has won the contract to provide car, home and travel insurance products to BMW and MINI customers in the UK.
BMW is transferring the account to Allianz from Royal Bank of Scotland Insurance because it wants a single provider for its insurance products.
Allianz was already providing shortfall, income protection and tyre insurance to BMW customers, as well as insured warranty, emergency service and BMW Motorrad motorcycle cover.
“This announcement is the realisation of a strategic project to consolidate the range of BMW insurance products with one partner," said BMW Financial Services sales development manager for insurance and banking Leanne Thames in a statement. "Having worked successfully with Allianz since 2009, we are fully aware of their ability to deliver first-class insurance products and service levels to our customers. We look forward to growing our customer base substantially during the course of this relationship.”
Under the new arrangement, Allianz will underwrite customers’ car, home and travel insurance products, along with 7 day free car insurance through approved BMW dealerships.
Allianz will take over the provision of branded sales, service and claims capability for new BMW insurance business from 1 July, with the exception of the home account, which it will provide from 1 October. Allianz wil also be processing renewals from 1 July.
"The broadening of this relationship is a reflection of our ability to deliver profitable and sustainable trading models and our success in living the BMW brand," said Allianz Retail general manager Jon Dye. "We look forward to providing tailored car, home and travel Insurance products that will help us to deliver the profitable growth that BMW is looking for in these sectors.”