Insurer introduces benefits packages for key partners in bid to boost market share
Allianz Cornhill is rolling out a revised benefits package for its largest regional brokers in a bid to boost market share.
The package for key partner brokers will include financial benefits such as new commission arrangements and targets, and non-financial benefits, including branch office support and marketing assistance.
Allianz Cornhill sales and distribution manager John Warburton said the move was aimed at increasing market share in the key partner segment.
"Our market share of this sector does not reflect our market share overall. AXA, Norwich Union and Royal & SunAlliance have more.
"We see ourselves replacing these insurers."
He added: "At the moment our key partner proposition is comparable but not leading that of other insurers."
Allianz Cornhill has about 300 key partner brokers in UK. The key partner package will be released in October.
Warburton said the insurer was also developing support for its 'mid-tier' provincial brokers by setting up an internal sales foundation programme, similar to the firm's underwriting academy.
Summer target for end-to-end connectivit
Allianz Cornhill is aiming for end-to-end connectivity through Imarket in the summer.
Sales and distribution director John Warburton said the insurer had already proved connectivity in a test environment with Acturis, SSP and Misys.
"We are now moving into a period of product testing with the intention of having connectivity with the first software house in the summer. This will provide immediate quotes for SME products straight from the broker's PC".
Warburton said Allianz Cornhill would be "at the vanguard" in terms of adding products to the system. "We will roll out products at the speed of Imarket's development."
