Allianz is refreshing its home and landlord insurance products

November 11th, 2019

From Monday next week, 18 November, Allianz’s refreshed Home Insurance products will be available to your clients via Mercury.

In 2014 we launched our partnership with Allianz Australia, allowing you to offer clients a range of general insurance products including Home Building and Contents, Landlord and Motor Vehicle Insurance.

Over the last few months Allianz have been refreshing their Home Insurance product policies and the refreshed offer is going live next week! Popular existing features such as no loading to pay by the month^ will remain, and up to 90 Days Free Buildings Cover* will return with the refresh. No changes will be made to No Claims Bonus.

What does this mean for you?
The refreshed Home and Landlord products will:

• Provide simpler Home and Landlord products for your customers
• Allow you to diversify and market this line of business to your clients with a new customer brochure and marketing templates (coming)
• Introduce a single customer friendly Home Product Disclosure Statement (PDS) and a refreshed Landlord Insurance PDS.
• Include the up to 90 Days Free Buildings Cover for you to offer to customers. The offer to receive 12 months insurance for the price of 11 months for the first year of cover will no longer be available.

Marketing collateral
If you use any marketing material referencing the old Home and Landlord products, please remove it this week. Your Allianz BDM will work with you on new materials.

There is no change the existing referral process via Mercury. See the Wiki for instructions on how simple it is to send a referral to Allianz in Mercury: https://support.connective.com.au/hc/en-us/articles/115010373348-Adding-Insurance-to-your-offer-

What does this mean for customers?
The change will provide greater simplicity for new customers when selecting an insurance product to meet their needs. The new look PDS will provide customers with clearer language as well as new infographics to help show what is included or not included in their cover type. Customers who have existing Home and Landlord policies will automatically be migrated to the new Home or Landlord product at the time of their renewal and will gain the benefits of the refreshed products.

What about my customers who are renewing?
Existing customers will be migrated to the new Home and Contents or Landlord product at the time of their renewal, commencing with customers whose renewals are due on 8 February 2019. Renewing customers will receive the new PDS as well as a flyer highlighting that the product and PDS has changed. The flyer instructs the customer to review the PDS to understand the changes to their cover.

How to refer a customer to Allianz Insurance
The Allianz referral program helps your clients get insurance cover for their most valuable assets, while providing a simple way to diversify your business. It is a ‘no advice’ referral partnership which means you can simply gain consent from your clients to share their details with Allianz, and then via Mercury send Allianz your client details, and their team then goes on to secure the policy – which means your client is protected and you make more revenue!

To learn more about how to do this in Mercury please the Wiki here: https://support.connective.com.au/hc/en-us/articles/115010373348-Adding-Insurance-to-your-offer- or download the Allianz How to Refer info HERE

Got questions?
If you require any further information please speak to your local Broker Support Manager or contact the Allianz BDM in your state in the details below:

Allianz’s customer disclaimers:
^ Instalment premiums
If you choose to pay your premium by instalments you do not pay us any more than if you pay your premium in one lump sum annually. The premiums payable by instalments may be subject to minor adjustments (upwards or downwards) due to rounding. Note: Your financial institution may apply transaction fees to instalment payments.
* 90 Day free building cover period.
The offer of free settlement cover may only be used in conjunction with the purchase of a residential home or residential investment property and the purchase of a twelve (12) month Home Insurance or Landlords Policy for that property which includes buildings cover. It is not available to land-only ownership or Strata Title properties. This insurance is subject to normal underwriting terms and is offered subject to your eligibility for home or landlord insurance with the insurer. You must consider whether you need insurance for your settlement period as this varies from state to state and may depend on the terms of your contract for sale of property. Please seek independent advice to ensure that you are adequately covered at the appropriate time. By purchasing a twelve (12) month home or landlord insurance policy (including buildings cover), your policy will include an additional free cover period for your buildings of up to a maximum of 90 days before the start date of your twelve month policy. The free cover period will be shown in your policy schedule. The expiry date will be the settlement date nominated by you, which cannot exceed the  ninetieth (90th) day from the start of the free cover period. The twelve (12) month period of insurance under your home or landlord insurance policy will commence immediately following the expiry of the free cover period. Once the policy is purchased, the expiry date of your free buildings cover and the commencement date of your twelve (12) month insurance policy cannot be changed unless agreed to by Allianz in writing. The terms, conditions, limits and exclusions in your home or landlord insurance policy (which are set out in the Product Disclosure Statement and policy schedule) will apply to the free cover period. The optional additional cover “Rent Default and Theft by Tenant” if selected in the landlord insurance policy, does not apply during the free cover period.