Products to be rolled out this year

Allianz Retail is launching a household range to compete with the direct and high net worth markets.

Allianz Clear has been tested with select brokers and will be made available to SSP software users from next month. It is expected to be rolled out across the entire market later this year.

The three-tier product offers different levels of cover: Clear Essentials, Clear Advance and Clear Complete.

Gareth McChesney, household manager at Allianz Retail, said the products would compete with rates offered by direct players and high net worth (HNW) specialists.

“They will fill a gap between conventional and HNW products,” he said.

“We responded to brokers who told us this was something that was not available.”

He added that the products would be attractive in the current economic climate as they had been designed to offer greater flexibility.