Allianz Partners UK (AzP UK), a leader in B2B2C insurance and assistance, has been selected by specialist MGA, Avid Insurance, as its new capacity provider and will now underwrite travel policies sold by Avid through its network of partners.
As part of its drive to strengthen its position in travel insurance, this new collaboration bolsters the success AzP UK has achieved in recent years, including notable travel insurance acquisitions in the banking sector. These have enabled the company to accelerate its growth plans, resulting in AzP UK now being a significant player in the UK’s travel insurance market.
The partnership with Avid was effective earlier this year. It is a significant, strategic project and will involve AzP UK underwriting travel policies provided through Avid’s partner schemes.
Marcus Latchford, Chief Sales and Distribution Officer for Allianz Partners UK and Ireland, comments:
“Providing the underwriting capacity for Avid’s travel schemes is an exciting and significant opportunity for us to broaden our distribution in a key part of the travel insurance market.
As travel has opened up following the relaxation of Covid-19 restrictions, we’ve experienced unprecedented demand for our products and services and are continuing to build our share of the travel insurance market on the back of this.
Our strong underwriting and technical capabilities give us a great platform to expand our coverage further into the broker and MGA channels, and our new partnership with Avid is another key step in this journey.”
Dan Baldwin, Head of Personal Lines for Avid Insurance, comments:
“This is an exciting new partnership for Avid, bringing together the strength of Avid’s scheme management, reporting and analytics capabilities and distribution partnerships with Allianz Partners UK’s commitment to expand their presence within the travel insurance market.” “After discussions with a number of potential capacity partners, Allianz quickly emerged as our partner of choice due to their experience in the travel market, financial strength and appetite to work with us for the long-term.
“Our aim is to build a fruitful partnership that delivers measured, profitable growth for our capacity partner.”
Looking ahead, Baldwin added: ”Multiple different schemes are currently live, offering a range of single trip and multi-trip products, and we expect to go to market with several more later this year.”