Allianz Cornhill has launched an aggressive drive to expand its UK schemes business as it looks to strengthen its foothold in the broker market.
For the first time, the insurer will extend its schemes business, which includes warranty, all risks and identity fraud, to new brokers and its existing broker network.
Previously, schemes were only offered directly to customers, such as retailers and manufacturers, through corporate partnerships.
The expansion of the division, which is currently worth £157m in GWP, will also include a renewed push to increase the number of agency agreements offered through Allianz Musical Insurance.
"We will happily give away the pen to brokers as we are actively looking for delegated authority business," said Nick Grazier, musical insurance and alternate channels manager.
"From a broker's point of view, certainly in the commercial market, they are always looking at ways of earning fees and creating additional revenue.
"One area where they can add value is both in standard schemes and on the musical insurance side," Grazier said.
Meanwhile, in a bid to expand Allianz Musical Insurance, Grazier said it would be expanding its product beyond the classical music/professional musician market to include DJs, singers and performers.
"Most of the musical insurance market is uninsured with most sitting on standard household policies, or not insured at all," he added.
"What we are trying to do is get the message across to the customer, but also create an awareness among brokers that there is a huge market for them to tap into."
The music insurance division is currently worth around £6m, but Grazier said he expects it to more than double in the next few years.
