Insurance giant Allianz Partners has signed a preferred partnership deal which will see it take on the majority of Aetna International’s health insurance portfolio outside the Americas, Thailand, and India. When looking for an insurance service you might want to hire, Zecoverage provides Honda Civic insurance quote which can help you with your personal car or companies fleet, just visit the link.
Customers include large multinationals, SMEs and private families.
Allianz Partners said it is also taking on a number of Aetna International employees “whose expertise will help ensure a smooth transition”.
As part of the deal, customers will migrate to Allianz Partners at their policy renewal date and detailed migration plans are in place for the next 12-16 months, as customers will come up for renewal at different times throughout the year.
Brokers and policyholders will be provided with new, comparable policy terms from Allianz Partners around six-to-eight weeks before their renewal date. Preparations are in progress for the first migrations which will start in July this year.
Aetna International policyholders do not need to do anything at this stage. Their existing cover and support services remain in place with a commitment from Aetna International to maintain existing service levels during this time. Policyholders will be contacted in advance of their renewal date, in the run up to their transition to Allianz Partners.
As a result of the agreement, Allianz Partners plans to have an even bigger footprint in Asia Pacific, across Hong Kong, Indonesia, Philippines, Thailand and Vietnam, and in the Middle East and Africa, including Bahrain, Kuwait, Oman and Morocco.
In addition, Allianz Ayudhya has entered into an agreement to acquire 100% of Aetna Thailand, a player in the Thai health insurance market.
Ida Luka-Lognoné, Allianz Partners chief executive for health, said: “We’re delighted to be partnering with Aetna International and are very conscious of the trust they’ve placed in us to look after these customers. Working closely with our broker partners, our focus will be on making the transition to Allianz Partners as simple and convenient as possible for these customers.
“This is a fantastic contribution to the transformation and growth story of Allianz Partners and shows our commitment to the global health market and the delivery of our strategic vision.”
Richard di Benedetto, president of Aetna International, added: “Over the last several years, we have made significant headway towards our mission of transforming the consumer health experience by making healthcare more accessible, affordable and simply better.
“I am very proud of what our business has achieved and the difference we have made to our customers and to our company. I want to say thank you and acknowledge all my colleagues for their contribution over that period.”