Global insurer Allianz has entered a preferred partnership deal which will see it take on the majority of Aetna International’s health insurance portfolio outside the Americas, Thailand, and India.
Aetna International selected Allianz Partners for this partnership deal to ensure that its customers can be migrated to a reliable and well-established international health insurer that can offer a high level of cover and service internationally.
Customers will migrate to Allianz Partners at their policy renewal date and detailed migration plans are in place for the next 12-16 months, as customers will come up for renewal at different times throughout the year. Brokers and policyholders will be provided with new, comparable policy terms from Allianz Partners around 6-8 weeks before their renewal date.
Allianz said that, in line with its approach to serve the needs of different customer segments within this market, it has created a new version of Aetna International’s very popular, flexible and competitive Summit product. The new Summit product will be available to Aetna International’s migrating SME Summit customers, as well as new Allianz Partners customers.
Customers include large multinationals, SMEs and private families.
Speaking about the agreement Richard di Benedetto, president of Aetna International, said, “Over the last several years, we have made significant headway towards our mission of transforming the consumer health experience by making healthcare more accessible, affordable and simply better… Allianz Partners shares our vision to deliver a customer-first approach to healthcare and health insurance, and I know our partners and customers will be in safe hands with them.”
Earlier this month, Allianz partnered with a non-banking financial services company based in Africa to create a Pan-African insurance giant. The joint venture it to house the business units of both Sanlam and Allianz in the African countries where one or both companies have a presence, amounting to 29 countries across the continent.
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