Allianz Cornhill Schemes has appointed Direct Group as its preferred administrator for all its creditor insurance schemes.
It said the new partnership would provide significant partnerships for the two companies to work together and jointly underwrite and administer products for finance houses and dealer groups.
Allianz Cornhill Schemes business development and marketing manager Nigel Wilkinson said: "This partnership presents some exciting opportunities for both organisations.
"Our relationship is built upon development of existing business and acquisition of new opportunities within creditor, guaranteed asset protection (GAP) and motor breakdown insurance with Direct Group being an administrator and claims handler.
"Allianz Cornhill Schemes is a specialist insurer that can provide dedicated teams including advice and support on FSA compliance issues.
"Together with Direct Group we will be using proven training methodology to improve product penetration and to maximise benefits to clients."
Direct Group sales director Richard Collins said the partnership brought the company closer to its goal of becoming a major player in the business process outsourcing market for the financial sector.
