Zurich agrees five-year capacity deal with travel insurer

EXCLUSIVE: Insurer Zurich has agreed a new long-term, five-year capacity deal with travel insurer AllClear and its subsidiary InsureandGo, effective from 1 November 2021.

The agreement will see Zurich provide sole underwriting capacity for the firms’ UK business, underwriting all of AllClear and InsureandGo’s travel products, as well as those delivered by its partner brands.

Zurich replaces the companies’ previous capacity provider Mapfre.

Intermediary AllClear specialises in offering travel insurance policies for customers with medical and health conditions.

David Martin, head of retail at Zurich, said the capacity deal aligns with the insurer’s overarching retail strategy, which aims to deliver “profitable growth through a diverse portfolio of partnerships”.

He continued: “AllClear and InsureandGo are both high profile brands with clear expertise in their respective travel insurance segments.

“We look forward to working closely with them as we continue to grow our personal lines business through a range of new complementary distribution arrangements.”

Accelerate growth post-pandemic

Chris Rolland, AllClear Group’s chief executive, added that the new agreement “brings further exciting opportunities for both parties in the future” – he plans to use Zurich’s backing to “accelerate” InsureandGo’s growth, for example.

He said: “Despite a very challenging 18 months for the travel industry, the AllClear Group is preparing for the upturn and will re-emerge from the Covid restrictions era as a bigger, stronger and more diversified business.

“Entering a new long-term underwriting partnership with Zurich, a well known global brand, brings further exciting opportunities for both parties in the future.

“With the new partnership, we will accelerate the growth of InsureandGo, using the resources, support and expertise of AllClear, backed by the strength of Zurich’s underwriting capabilities.

“Our brands will share learning and leverage expertise to further enhance the services the group provides to its valued customer base as the market starts to build again.”

This arrangement follows two capacity deals Zurich secured in September 2021 – with agricultural and farm insurance specialist underwriter AIUA and KGM Underwriting, a niche motor MGA.