When VERS Leipzig GmbH’s current industry monitors were published in autumn 2020, the motor vehicle insurance issue revealed something remarkable: Allianz Direct, Allianz’s direct insurer, had lost a total of 300,000 contracts in the financial year. 2019.
opposite to pro against A company spokeswoman explained the policy decline with a change in sales strategy. The new strategy provides for a complete exit from comparison portals. These are usually registered as insurance brokers, for which they charge a sales commission. At Check24 and Co. these are relatively high, depending on the industry.
Now Allianz Direct is apparently adjusting its strategy again. “Allianz Direct and Check24 are starting a strategic partnership in Germany and Spain,” the insurer said in a press release on Friday. After a test phase in August, customers should be able to buy car insurance from the direct insurer via Check24 from September this year and thus in time for the change of season.
Focus on “price sensitive customers”
According to the press release, they will work closely together in the future to develop a purely digital business model. The focus is primarily on “price sensitive customers”. Motor vehicle insurance is probably just the beginning. With regard to motor vehicle insurance, there is talk of a “first joint product launch”, so more are likely to follow for the foreseeable future. Allianz Direct also sells household goods, liability and travel insurance.
However, it makes sense for the insurer to start with car insurance. The Allianz subsidiary had to struggle particularly here. According to the current annual report, the number of vehicles insured with Allianz Direct fell 11.6 percent to 378,593 last year. It is true that new businesses were able to grow in all divisions. “However, business across all sales channels did not reach the level before sales through comparison portals were discontinued in 2019.”
With the partnership with Check24, this is now set to change again. “Partnering with CHECK24 is an essential step on our way to becoming the best online insurer in Europe,” Allianz Direkt CEO Philipp Kroetz confidently explains.