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Allianz partners with Drivy to provide insurance for car sharing platform

Press Release   •   Apr 11, 2018 09:37 BST

Jonathan Dye, head of motor insurance

Allianz Insurance has partnered with Drivy (UK) to provide insurance for users of their car sharing platform.

Drivy, a leading car sharing operator, links drivers, who need a car on a short term basis, with vehicle owners who want to generate extra money when they are not using the car.

The partnership between Allianz and Drivy ensures car owners and hirers are insured for the length of the rental period. It’s an extension of the wider partnership, in six European countries, between the Allianz Group and Drivy Limited.

The fully comprehensive insurance cover* provided by Allianz for the duration of the rental includes cover to drive throughout the European Union and so gives protection of the owner’s existing insurance and no claims discount.

Jonathan Dye, head of motor insurance, Allianz Insurance, commented: “Innovative insurance solutions are needed to support the growth of the sharing economy and tailoring insurance cover is one way we can do this. Attitudes to mobility are rapidly changing and it’s important that Allianz provides customers with options whether they own or rent vehicles.”

Paulin Dementhon, CEO, Drivy added: “Working with Allianz, allows us to cement trust with our users as we roll out our car sharing service across the UK. Insurance is a key consideration for everyone - whether they are a car owner or driver on the road. So through Allianz we can ensure everyone is safely protected, however a car fits into today’s lifestyles.”

*Full terms and conditions of the insurance cover can be found on the Drivy ‘Insurance and roadside assistance’ webpages.

ENDS

For further information please contact:

Amy Yorston e-mail: amy.yorston@allianz.co.ukTel: 01483 552632

Sabrina Johnson e-mail: sabrina.johnson@drivy.comTel: 07572 765371

About Drivy

Drivy is Europe's leading car sharing platform. With over 50,000 cars shared across 6 countries (France, Germany, Spain, Austria, Belgium and the UK), we enable more than 3 million days of rental for a community of 1.8 million users. The service makes it quick and easy for drivers to rent a nearby car from professional and private owners when they need one, whether for a short break, a business meeting or to just get out of the city. To ensure safe rentals, all cars are covered by Drivy's comprehensive insurance and roadside assistance package designed with partners Allianz and the AA. As the transport industry evolves and travel habits change, Drivy aims to foster the growing cultural shift away from car ownership to more convenient, efficient and cost effective rental solutions.

The information contained in this press release relates to Allianz Insurance plc. Allianz Insurance plc is one of the largest general insurers in the UK and part of the Allianz Group.

The Allianz Group is one of the world's leading insurers and asset managers with more than 86 million retail and corporate customers. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing over 650 billion euros on behalf of its insurance customers while our asset managers Allianz Global Investors and PIMCO manage an additional 1.4 trillion euros of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we hold a leading position in the Dow Jones Sustainability Index. In 2016, over 140,000 employees in more than 70 countries achieved total revenue of 122 billion euros and an operating profit of 11 billion euros for the group.

These assessments are, as always, subject to the disclaimer provided below.

Cautionary note regarding forward-looking statements

The statements contained herein may include prospects, statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those expressed or implied in such forward-looking statements.

Such deviations may arise due to, without limitation, (i) changes of the general economic conditions and competitive situation, particularly in the Allianz Group's core business and core markets, (ii) performance of financial markets (particularly market volatility, liquidity and credit events), (iii) frequency and severity of insured loss events, including from natural catastrophes, and the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) particularly in the banking business, the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates including the euro/US-dollar exchange rate, (ix) changes in laws and regulations, including tax regulations, (x) the impact of acquisitions, including related integration issues, and reorganization measures, and (xi) general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences.

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