Industrial Alliance Insurance and Financial Services has signed a partnership agreement with Allianz Global Benefits.
This new partnership will allow Industrial Alliance clients to benefit from the stand-alone and captive fronting experience of Allianz Global Benefits.
Industrial Alliance has stated that its customers will enjoy cost savings, international dividends and greater control over their benefits plans.
By receiving detailed financial reports on a regular basis regarding the operation of the pool, multinational employers can also identify any problem areas, such as cost escalation or claims incidence in a local benefit plan.
"Being there where our clients are is of key importance for us and is in alignment with our growth strategy in this important business segment of employee benefits,” said Dirk Hellmuth, CEO of Allianz Global Benefits.
Christian Scherff, senior network manager at Allianz Global Benefits who lead the negotiations, added: "Industrial Alliance is the ideal partner to offer our clients the full range of services and products they need in Canada, combined with strong financial security and sophisticated services."
