The BMW Group and Allianz SE are planning to intensify their cooperation on a global level. The CEOs of the two companies, Norbert Reithofer and Michael Diekmann, signed the respective declaration of intent in Munich yesterday.
The agreement focuses on a range of vehicle and mobility related insurance products for end customers, such as automobile insurances and used-car warranties. These products are to complement the broad range of financial services already offered by BMW Financial Services.
The goal is to provide customers with the same standardized products worldwide, to deliver consistent premium service as well as to generate synergies and economies of scale.
Norbert Reithofer commented on the agreement: "Allianz SE is the perfect partner for us and our customers worldwide as the company is going to support us with a comprehensive range of transparent, high-quality premium products. We regard this cooperation as an element in the implementation of our strategy Number ONE, namely in becoming the world's leading provider of premium products and premium services for individual mobility."
Michael Diekmann added: "Allianz is a strong partner for the BMW Group and their customers, not only due to our expertise in matters of designing and marketing insurance solutions for automakers and their dealership networks but also thanks to our global presence and in-depth knowledge of local market conditions. This global partnership builds on successful existing collaborations between the BWM Group and Allianz' international subsidiaries."
The agreement focuses on a range of vehicle and mobility related insurance products for end customers, such as automobile insurances and used-car warranties. These products are to complement the broad range of financial services already offered by BMW Financial Services.
The goal is to provide customers with the same standardized products worldwide, to deliver consistent premium service as well as to generate synergies and economies of scale.
Norbert Reithofer commented on the agreement: "Allianz SE is the perfect partner for us and our customers worldwide as the company is going to support us with a comprehensive range of transparent, high-quality premium products. We regard this cooperation as an element in the implementation of our strategy Number ONE, namely in becoming the world's leading provider of premium products and premium services for individual mobility."
Michael Diekmann added: "Allianz is a strong partner for the BMW Group and their customers, not only due to our expertise in matters of designing and marketing insurance solutions for automakers and their dealership networks but also thanks to our global presence and in-depth knowledge of local market conditions. This global partnership builds on successful existing collaborations between the BWM Group and Allianz' international subsidiaries."
