Allianz and Western Union Sign MOU
June 1, 2012 by N/A
Posted By: Editor On 5/29/2012 12:17:51 PM
Allianz SEandWestern Union Companyhave signed a Memorandum of Understanding to develop, design and distribute insurance products in several countries around the world.
According to a release,AllianzandWestern Unionwill work closely over the next year to develop solutions for customer needs within each of the companies’ networks, which together reach millions of potential customers. The companies anticipate that Allianz will take the role of product provider andWestern Unionwill serve as distributor. They will also explore co-marketing opportunities and premium payments for Allianz customers throughWestern Union.
“The global demand for protection against life, property and health risks is growing far beyond developed markets,” saysMichael Diekmann, CEO ofAllianz SE. “It is our goal to provide an increasing number of customers with this protection in order for them to be able to better participate in the economic development. We’ll explore these opportunities withWestern Union, considering joint proposals to customers in the markets where we both operate.”
“The changes taking place atWestern Unioninclude expanding our portfolio to include a broader range of products and services that are needed by our customers and are not readily available elsewhere,” saidHikmet Ersek,Western UnionPresident and CEO. “We will leverage the power of our brand and extensive network of 500,000 Agent locations in more than 200 countries and territories, and partner with insurance companies to offer products that better serve the two billion financially underserved consumers around the world.”
“If we examine this agreement through the prism of the current economic development needs inMiddle EastandAfrica, we find that it provides both companies with access to untapped markets and a unique opportunity to be on the cutting edge within the financial services industry”, saidJean Claude Farah,Western UnionSenior Vice President Middle East andAfrica.
“This step enablesAllianzandWestern Unionto begin quickly offering relevant and timely solutions that will help develop the financial and insurance framework in the region,” Farah added.
The Western Union Companyis a global payment service.
((Comments on this story may be sent to newsdesk@closeupmedia.com))
|
Copyright: |
(c) 2012 ProQuest Information and Learning Company; All Rights Reserved. |
|
Source: |
Proquest LLC |
|
Wordcount: |
352 |
