Allianz Insurance Singapore– All You Need To Know About The Company And The Policies They Offer In Singapore
Allianz Insurance Singapore is a global insurance company established in June 2020 to offer insurance services to individuals, SMEs, and corporates.
Allianz Insurance Individual Solutions
Allianze offers individual solutions designed to cover personal property, personal liability, and personal financial needs. Allianz Insurance individual solutions include;
- Allianz Motor Protect: this policy covers the car against accidents, fire, and theft. It also offers a lifetime warranty on the workmanship of repairs at authorized workshops. Under the “New for Old” replacement car program, the policyholder gets a brand new replacement car if the car is less than 2 years old and damaged beyond repair.
- Allianz Accident Protect: this policy covers accidental death and treatment of injuries suffered by the insured person in the accident. The insured person also gets hospitalization benefits, dependent cover benefits, and weekly cash benefits.
- Allianz Cancer Protect: covers financial costs from cancer treatment and management of the insured person. Additional benefits include up to S$3,500 monthly payments for 12 months to supplement your income during recovery.
- Allianz Home Protect: this policy covers the content of your home from damage or loss. The policy offers up to S$100,000 in-home content protection against typhoons, fire, theft, water damage, and gas explosion, among others.
- Allianz Hospital Income Protect: this policy helps the holder to offset hospital expenses. This policy also offers daily cash payouts during the Insured Person’s medical leave period.
Allianz Insurance SME Solutions
This policy is mainly designed for startups and SMEs in various sectors like education, food and beverages, personal services, and retail. This policy covers business from interruption from unforeseen occurrences, public liability, goods in transit, electronic equipment, fidelity guarantee, personal accidents, and machinery breakdown.
The various policies offered to SMEs include;
- Casualty Insurance: this policy offers comprehensive coverage against all forms of risks, including medical costs, absenteeism, and workplace-related lawsuits.
- Highly Protected Risk Insurance (HPR): this policy is designed to protect commercial properties against a variety of risks like environmental damage, stolen equipment, Data Compromise, and loss of business income.
- Program & Facility Insurance is designed for program/ facility administrators that run veterinary practices, third-party logistics, pharmacy, or other industry risks.
- SME Risk Consulting: this policy offers comprehensive risk consultancy services for SMEs to improve loss management and minimize future risks.
Allianz Insurance Corporate Solutions
Allianz Insurance Corporate Solutions are meant to support and corporate functions and sustain business functions. They include;
- Casualty Insurance: corporate can use this policy to cover accidents and accidental injury, and damage to third parties and their property.
- Engineering Insurance: this policy helps contractors and engineers to safeguard their ongoing projects, equipment, and machines.
- Property Insurance: this policy is used by corporate to protect their property and physical capital against unforeseen risks.
- Group Personal Accident Insurance: companies can take out this policy to cover their employees against unforeseen circumstances like total and permanent disablement, major medical expenses, and even death due to accident.
- Work Injury Compensation Insurance: employers are legally required to insure their employees from injuries sustained in the line of duty.
Allianz Named the World’s #1 Insurance Brand
Allianz has been named the top insurance company in the world in the latest Interbrand’s Best Global Brands Ranking for the second consecutive time. This outstanding performance comes when the insurance industry is navigating a delicate landscape due to the COVID-19 pandemic.
According to Chief Executive Officer Oliver Bäte, the performance reflects the company’s resilience, integrity, and customer-centricity policies.
In the last ten years, Allianz has moved up in ranking from 67th place and a market value of $4.9 billion in 2010 to 39th place with a value of almost $13 billion in 2020 in the Top 40 Best Global Brands ranking.
Each year, Interbrand publishes the Best Global Brands report that identifies the 100 most valuable brands in the world. The ranking only considers publicly listed companies that have a global presence. The criteria used to select brands include annual sales volume and market power or the ability to influence buying decisions.
Allianz Asia Pacific Reports Strong Full-Year Financial Results in Challenging Year
Allianz Asia Pacific recently reported strong financial results for the full year ending December 31, 2020. The impressive performance comes at the backdrop of a challenging year due to the COVID-19 pandemic that has caused an economic slump and uncertainty in business circles.
During the year, the company’s Property & Casualty revenues up 12.5% to EUR 1.3 billion while operating profit rose 32% to EUR 120 million. Operating profit from Life & Health insurance went up 11.4% to EUR 431 million while value from new businesses increased 2.5% to EUR 342 million.
Total revenue from Asia rose by 9.0% to EUR 7.4 billion, while total operating profit from the region went up by 15.4% to EUR 551 million.
Allianz signs Eight-Year Worldwide Olympic & Paralympic Partnership
Allianz recently signed up as the official “Worldwide Insurance Partner” of the Olympic & Paralympic Movements.” According to CEO Bäte, the deal further confirms the company’s supports for sports as well as the shared values of inclusion, excellence, friendship, and respect.
The company has successfully delivered several products in the sports arena in several markets like China, Australia, France, and Spain. Allianz has partnered with the Australian Olympic Committee’s Wellbeing Week and the Organising Committee Olympic Games Paris 2024, to name a few.
Under the partnership, Allianz will offer employees and consumers a chance to take part in the Olympic Torch Relay at Beijing 2022. The company will also work with youth through various activities like building friendships, trying sports, and mentorship from leading athletes at its Allianz Sports Camps.
According to IOC President Thomas Bach, the deal has already kicked in, and the company has been working with key pilot markets to support the Olympic Movement and individual athletes.
Allianz Travel Insurance
Allianz also offers a travel insurance policy in three options Bronze, Silver, and Platinum tiers. The three plans offer different pricing for different benefits. This policy targets traveler who care more about being reimbursed for travel inconveniences like lost baggage and trip cancellations or delays.