Press release -
Allianz calls for green repairs
- 10th Allianz Motor Day: Increasing the green repair rates by 2 percentage points can reduce annual Europe-wide CO2 emissions by 30,000 tons
- Allianz calls for sustainability standards for car workshops
- New pan-European Allianz platform with information, products and services related to electromobility to be launched beginning of 2023, starting with Germany
Sustainable car insurance was the focus of the 10th Allianz Motor Day on 19 October 2022. Discussions at the international event hosted by Allianz centred on electric mobility as a key lever for decarbonisation, as well as green claims management to reduce CO2 emissions.
Repairing instead of replacing with new parts
“In car insurance, we see many levers in sustainable claims management that can significantly reduce CO2 emissions,” says Klaus-Peter Roehler, member of the Board of Management of Allianz SE, responsible for the insurance business in Germany, Switzerland, Central and Eastern Europe as well as Global P&C Retail and SMC and Global Claims. “In this context, finding suitable opportunities to repair rather than use new parts is of the greatest importance.”
The production of a new part has a significantly higher carbon footprint than a repair. “While these repair options are already being used today, we still see great potential for improvement here. If insurers increase repair rates in Europe by just two percentage points per year, according to our experts, almost 30,000 tons of CO2 emissions can be avoided, equivalent to the annual energy consumption of around 5,100 households,” explains Roehler. “This underpins our proposition to increase green repairs in the future.”
In the UK, Allianz Commercial and LV= have partnered with salvage provider Synetiq to help repairers source green parts automatically.
Certifying sustainable workshops
Another lever for more sustainable claims management is the standardised certification of workshops in the European markets according to sustainability criteria. “Allianz, along with other stakeholders in the motor vehicle industry, would like to create common standards across Europe,” says Roehler. “Only in this way is it possible for us to consciously include adherence to sustainability criteria in choosing a workshop.”
In the UK, LV=-branded bodyshops need to be carbon-neutral and offer electric cars as courtesy vehicles, under the Green Heart Standard, which is the first initiative of its kind in the car insurance industry. 70% of LV= customer repairs are now being done by carbon neutral bodyshops. As part of the standard, LV= also promotes the use of recycled parts and educates customers on the benefits.
Making electric vehicles customer-friendly
The United Nations-convened Net Zero Insurance Alliance (NZIA), co-founded by Allianz in 2021, aims to promote the decarbonisation of insurance portfolios.
“To make electric mobility suitable for the masses, all market participants must create customer-friendly solutions. These include, among other things, faster expansion of the charging infrastructure, competitive prices and useful services related to electric vehicles.” says Roehler.
LV= has recently launched ElectriX, a one-stop shop offering UK drivers everything they need to get on the road with an electric car – from leasing a vehicle, through to buying a home charger and getting electric car insurance.
Meanwhile, Allianz Commercial has adapted its fleet and motor trade policies to cover electric vehicles and supplement its offer with additional services. It has also trained its engineer surveyors in the UK so they can inspect charging points located in commercial premises.
Offering a digital platform for EV users
Allianz is partnering with recognised experts and brands to create a dedicated digital platform for electric vehicles. The platform will provide comprehensive information to customers regarding electric mobility and offer a curated marketplace for everything related to electric vehicles. The offerings of the platform range from information on topics such as coverage or charging stations; services such as a battery check before buying or selling a used electric vehicle; wallbox installation with an on-site check; as well as a charging card on favourable conditions. It also includes suitable insurance products for electric vehicles.
The platform will go live at the beginning of 2023, starting with Germany. Over the course of next year, Allianz Partners will facilitate its rollout in many other markets.
“With this platform, Allianz aims to help customers decide in favour of sustainable mobility by offering them a wide range of information, products and services related to electromobility, all in one place,” Roehler says.
ENDS
Notes to Editors:
1. An image of Klaus-Peter Roehler is available to download below
2. An infographic on CO2 reduction is available to download below
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About Allianz Holdings plc
Allianz Holdings plc is the non-regulated holding company which owns the principal insurance operations of Allianz SE in Great Britain including Allianz Insurance
About Allianz
The Allianz Group is one of the world's leading insurers and asset managers with 126 million* private and corporate customers in more than 70 countries. 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 around 716 billion euros** on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage nearly 1.8 trillion euros** of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we are among the leaders in the insurance industry in the Dow Jones Sustainability Index. In 2021, over 155,000 employees achieved total revenues of 148.5 billion euros and an operating profit of 13.4 billion euros for the group.
These assessments are, as always, subject to the disclaimer provided below.
*Including non-consolidated entities with Allianz customers.
** As of June 30, 2022
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This document includes forward-looking statements, such as prospects or expectations, that are based on management's current views and assumptions and subject to known and unknown risks and uncertainties. Actual results, performance figures, or events may differ significantly from those expressed or implied in such forward-looking statements. Deviations may arise due to changes in factors including, but not limited to, the following: (i) the general economic and competitive situation in the Allianz Group's core business and core markets, (ii) the performance of financial markets (in particular market volatility, liquidity, and credit events), (iii) the frequency and severity of insured loss events, including those resulting 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, most notably the EUR/USD exchange rate, (ix) changes in laws and regulations, including tax regulations, (x) the impact of acquisitions including and related integration issues and reorganization measures, and (xi) the general competitive conditions that, in each individual case, apply at a local, regional, national, and/or global level. Many of these changes can be exacerbated by terrorist activities.
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