Against a backdrop of double-digit claims inflation, these new terms aim at delivering swifter sustainable repairs for customers.
The refreshed fleet policies will provide an incentive to customers who use Allianz’s Approved Repairer Network (ARN) in the form of an excess reduction.
Under new wordings effective 1 March, green parts will be fitted for non-safety-critical repairs where an appropriate part is available. Previously, explicit permission had to be sought for each repair, so the new rule will help speed up the claim process.
A green part is an undamaged component that has been salvaged from another vehicle. Allianz’s suppliers use only parts whose conformity has been certified. They come from the same manufacturer, with the original guarantee, and are the same age or newer than the parts they replace.
Allianz will guarantee the repairs made in its Approved Repairer Network, with or without green parts, for as long as the vehicle remains in its customer’s ownership.
Together with the excess reduction, this warranty aims to encourage customers to have their motor repairs done in one of the 300+ approved garages of its UK network.
This applies to the Motor Fleet and Small Fleet policies from 1 March, with Complete Mini Fleet following soon afterwards.
The repair times, costs and quality are better controlled inside the ARN than outside. The setting ensures industry standards are adhered to. It also allows for better cooperation and communication during the claim, enhancing customer experience.
Head of claims customer delivery Eibhlin Swan comments:
“The costs of motor claims have been rocketing in the market and we want to support our customers to keep their claims costs under control. For us, the solution is to work closely with our repairers. The incentive and the warranty we provide for ARN repairs show the trust we place in our partners’ skills.”
Head of commercial motor Gerry Ross adds:
“Using more green parts in the repair process is the right thing to do. It’s good for our customers as it will reduce their claims costs and repair times. It’s also good for the environment as it reduces waste and carbon emissions.”
The information contained in this press release relates to Allianz Insurance plc. Allianz Insurance plc is one of the largest general insurers in the UK and part of the Allianz Group.
About Allianz Holdings plc
Allianz Holdings plc is the non-regulated holding company which owns the principal insurance operations of Allianz SE in Great Britain.
About Allianz
The Allianz Group is one of the world's leading insurers and asset managers with more than 100 million* private and corporate customers in more than 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing 790 billion euros on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage 1.7 trillion euros of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we are amongst the leaders in the insurance industry in the Dow Jones Sustainability Index. In 2021, over 150,000 employees achieved total revenues of 148.5 billion euros and an operating profit of 13.4 billion euros for the group.
These assessments are, as always, subject to the disclaimer provided below.
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This document includes forward-looking statements, such as prospects or expectations, that are based on management's current views and assumptions and subject to known and unknown risks and uncertainties. Actual results, performance figures, or events may differ significantly from those expressed or implied in such forward-looking statements. Deviations may arise due to changes in factors including, but not limited to, the following: (i) the general economic and competitive situation in the Allianz Group's core business and core markets, (ii) the performance of financial markets (in particular market volatility, liquidity, and credit events), (iii) the frequency and severity of insured loss events, including those resulting from natural catastrophes, and the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) particularly in the banking business, the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates, most notably the EUR/USD exchange rate, (ix) changes in laws and regulations, including tax regulations, (x) the impact of acquisitions including and related integration issues and reorganization measures, and (xi) the general competitive conditions that, in each individual case, apply at a local, regional, national, and/or global level. Many of these changes can be exacerbated by terrorist activities.
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