Allianz UK ‘widening distribution footprint’ for smaller brokers

Allianz UK chief executive Colm Holmes has said that the insurer is ”widening distribution footprint” to do more business with smaller brokers.

Speaking to Insurance Times, Holmes said that he was looking at how it can be “more accessible” and that investments had been made at the front end of the business.

He made the comments after broker Howden agreed to acquire Allianz UK’s musical insurance book on 1 August 2024.

The deal will see Howden incorporate Allianz’s music customer base and marketing and operations teams into its scheme Lark Music.

As part of the deal, a new keynote product that incorporates Allianz music protect and Lark Music essential products will be formed.

Allianz UK will underwrite the proposition as the exclusive capacity provider.

Holmes said that this deal came about following discussions with Howden’s head of M&A Peter Blanc – and that it was a good example of the insurer “continuously” talking and interacting with brokers.

“We have a very close relationship with the team there and Peter Blanc and I had been talking and we felt it would be better to combine [as] it’s better for customers, better for us, better for them,” he said.

He then went onto speak about the smaller broking community and his plans for the sector.

“Particularly in the small broker community – how do we serve those brokers better? How do we make Allianz more accessible to them?” Holmes said.

“So, we are making a lot of investment in the front end of our business and widening our distribution footprint as regards to being able to do more business with more brokers in that space.”

Listening to brokers

Holmes also said that he wanted Allianz UK to be the “easiest company to do business with” and to launch more “innovative” products, including those for the business and property and business and liability propositions.

He added that he welcomed broker input over what is needed to do more deals together.

“We want to listen to the brokers and they tell us what it is we need to do to write more business with them to make their lives easier,” Holmes continued.

“That’s not going to change – if anything, I want us to double down on that because I want us to be the company that’s easiest to do business with.

“If they feel we need to change appetite, we will certainly look at that.”