Intermediated Insurance Australia (IIA) brand CGU has begun its partnership with ANZ to underwrite motor and other general insurance products for the bank’s retail customers.
ANZ customers will be able to purchase new policies and be invited to renew their existing policies with CGU from August 2023.
The long-term agreement will contribute to IIA’s target of achieving at least $250 million in insurance profit in FY2024.
“Today marks a significant milestone as we launch our mutually beneficial partnership with ANZ, enabling banking customers to access our market-leading insurance products and services, with a focus on strengthened digital capabilities and a seamless customer experience,” said Jarrod Hill, IIA Group Executive.
“Key to securing the partnership was the integration of our new digital platform and we look forward to using this technology to offer a dynamic experience for customers, not only at the start when a policy is taken out, but more critically, through the claims journey.
“As Australia and New Zealand’s largest general insurer, we also bring our well-established claims management expertise and ability to scale our support for customers in their time of need, particularly during major weather events.”