’This is a step-change in how brokers can trade with us,’ says director
Allianz UK has expanded its Complete Business proposition, introducing a series of enhancements aimed at making digital trading quicker and more flexible for brokers placing SME risks.
The insurer has broadened its underwriting appetite by adding 349 new trades, taking the total number supported to more than 1,350. It has also introduced multitrade functionality, allowing brokers to include up to three trades within a single quote.
Other changes include increasing the maximum material damage and business interruption limit to £10 million, removing referrals triggered by free text business descriptions and introducing a dedicated team of Complete Business underwriters to supper brokers.
The refreshed proposition is available through Allianz’s QuoteSME platform and imarket.
Director of digital trading Eibhlin Swan said: “This is a step-change in how brokers can trade with us.
“We’ve broadened our risk appetite, removed unnecessary referral points and strengthened our underwriting support to make it faster and easier to place SME business digitally.”
Trading changes
Allianz said the enhancements were designed to reduce friction in the quoting process while enabling brokers to place a wider range of SME risks online.
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The insurer has also introduced 0% interest instalments, updated policy documentation and improved its upfront decline functionality to help brokers identify risks that fall outside its appetite.
Swan added that the insurer had responded to broker feedback by increasing the number of risks it could accept and providing greater underwriting support.
“Crucially, we’ve listened to brokers and we’re now able to say ‘yes’ more often,” she said. “Whether it’s accepting free text risks without delays, supporting larger cases up to £10 million, or giving brokers direct access to more experienced underwriters, we’re helping them quote with greater speed and certainty.”
She said early results were encouraging, with Allianz’s Complete Business conversion rate increasing by five percentage points between April and May following the changes.
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