Allianz partners with insurtech on aviation coverage

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Allianz Group’s corporate and specialty insurance business, AGCS, has announced a new partnership with insurtech Visicover, a provider of aviation coverage.

The UK-based startup, founded in 2012, allows customers to buy airplane or helicopter insurance online while self-administering policies, including renewals. AGCS will now underwrite Visicover’s policies for aircrafts and help it expand to other markets, the companies said.

“The aviation industry is undergoing significant change,” said Tom Chamberlain, underwriting UW manager for aerospace and general aviation at AGCS, in a statement. “New technologies are impacting companies’ risks; creating new risks and eliminating old [ones].”

Allianz’s collaboration with Visicover aligns with the German insurer’s “Digital by Default” technology strategy, focusing on developing new distribution channels to sell policies.

“Through working with Visicover, we will be part of the innovative drive to understand how new technologies and insurance propositions can benefit the customer,” Chamberlain added.

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