German insurance giant Allianz has revealed that it will establish a new direct insurance operation in the Netherlands in the first quarter of 2008. It will conduct business under the brand name Allsecur and will start with the sale of motor insurance policies.
The decision to set up another direct entity followed the group’s recognition of the growing importance of direct sales in retail insurance. The new direct business builds on the best practice model of Genialloys, Allianz Italy’s successful direct operation.
The launch in the Netherlands complements Allianz’s direct operations in continental Europe with successful and rapidly growing operations in Italy (Genialloyd), Germany (Allianz 24), Spain (Fenix Directo) and central and eastern Europe (Allianz Direct New Europe).