Allianz rolls out new data initiative targeting underinsurance in SMEs
Provider says new data base notifies brokers if clients are at risk of being significantly underinsured.
Allianz Insurance has launched a new data initiative, which it said was designed to “empower brokers” and reduce the number of underinsured SMEs.
The move follows a thematic review conducted by the Financial Conduct Authority which revealed that 40% of SMEs could be underinsured.
Underinsurance
According to the insurer, brokers will now receive an electronic notification through QuoteSME at quote stage when Allianz’s data base indicates there is a risk of significant underinsurance.
It added
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