19 November 2019News

AGCS creates new business unit offering unbundled risk services

Allianz Global Corporate and Specialty (AGCS), Allianz’s corporate insurance carrier, has established a new business called AGCS Services, providing services including risk consulting, captive fronting and crisis management solutions.

AGCS has traditionally offered risk consulting and insurance services as part of insurance covers or programs, but it is now unbundling its services and making them available on a pay as you go basis. It will allow clients to access risk services without having to take out an insurance policy.

AGCS Services is initially available in central and eastern Europe (CEE) and the Mediterranean region through a separate entity, Allianz Risk Consulting. The services are delivered through AGCS experts and engineers, complemented by third-party providers.

AGCS is also developing services around Industrial Internet of things technologies.

Hartmut Mai, an AGCS board member responsible for regional units in CEE, Mediterranean and Africa, said: “Corporate risk managers need much more than traditional risk transfer in today’s complex and fast-changing environment. By introducing a suite of value-added services we enhance our offering and allow our clients a broader choice as they can now opt for specific service solutions.”

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