’We know brokers value speed, simplicity and access to underwriting expertise and these enhancements are designed to support that,’ says director of digital trading
Allianz UK has expanded its digital financial lines proposition, enabling brokers to place a broader range of larger and more complex risks through its QuoteSME and imarket platforms.
The insurer said the enhancements are designed to simplify the trading process, increase access to specialist financial lines products and accelerate decision-making at quote stage.
The move forms part of Allianz’s wider digital trading strategy, which focuses on making more financial lines business available online while reducing friction in the broker journey.
A key element of the upgrade is an improvement in data enrichment for complete directors and officers (D&O) customers. Allianz said enhancements to its company data capabilities have increased match rates from 60% to 96%, helping to reduce referrals and improve underwriting efficiency.
According to the insurer, the changes have already contributed to a 15% increase in quote rates across the platform.
Product thresholds
Allianz has also increased its underwriting thresholds for financial lines products.
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Complete D&O insurance is now available for businesses with turnover of up to £200m, while complete professional indemnity can now be written for firms with fee income of up to £10m and turnover reaching £100m.
The insurer said the expanded thresholds allow brokers to place larger and more complex risks digitally while retaining access to specialist underwriting support when required.
Eibhlin Swan, director of digital trading at Allianz UK, said: “This is another important step in making it easier for brokers to trade financial lines business with Allianz.
“We know brokers value speed, simplicity and access to underwriting expertise and these enhancements are designed to support that.”
Faster access
Allianz said the improvements are intended to provide brokers with faster access to professional indemnity and D&O cover, either as standalone products or alongside other policies within its complete suite.
The enhanced proposition is now available through both QuoteSME and imarket.
Swan added: “Early results are encouraging, with improved match rates, fewer referrals and stronger quote rates across QuoteSME and imarket.
“This is about continuing to listen to brokers and investing in the areas that make a practical difference to their trading experience.”
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