OREANDA-NEWS. June 18, 2009. Allianz ROSNO Life and Barclays Bank have signed a cooperation agreement, whereby the bank will be selling via its divisions the accumulative insurance programs offered by Allianz ROSNO Life, reported the press-centre of ROSNO.

Buyers can model various program parameters to ensure maximum satisfaction of personal needs — for example, change the insured beneficiary, premium amount or currency of the policy. One novelty is multicurrency insurance enabling mitigation of exchange risks and preservation of stable amount of savings and insurance protection.

"Following its strategy of sales channels diversification, Allianz ROSNO Life pays major attention to promoting life insurance programs via banks, which represent an efficient sales channel. We expect that by the end of 2011 the share of sales via banks in the insurance portfolio of Allianz ROSNO Life will reach 25%. We have chosen Barclays Bank as our business partner, taking into account such major aspects as financial stability, irreproachable business reputation, flexible approach to the clients’ individual needs and high-quality customer service", commented Ms. Elena Kozhina, Deputy CEO of Allianz ROSNO Life.

Says Mr. Oleg Safonov, First Deputy Chairman of the Board, Head of the Retail Business Unit at Barclays Bank: "Bankassurance is successfully developing within the Group, and we apply the time-proved know-how in Russia. We hope that the new service offered jointly with Allianz ROSNO Life, a respectable player in the Russian life insurance market with the longstanding Western expertise, will be as popular as the standard products offered by the Bank. In addition, by introducing this service, we are looking to meet public expectations. According to our research*, over 40% of all actual and potential clients would like to purchase insurance services directly in the Bank office. Moreover, about one-fourth of all respondents were interested in accumulative life insurance".

The Bank’s clients are offered accumulative life insurance programs "Your Priority" and life insurance with children as beneficiaries "Children’s Capital".

Both insurance programs guarantee insurance coverage against the risk of death due to accident, and exemption from payment of insurance premium in case of a disability of the 1st or 2nd groups due to accident.

The insurance contracts can be concluded for 10 to 30 years and can be denominated in roubles, US dollars, or euro; alternatively, a multicurrency scheme can be used.
Upon the client’s request, the provisions of the contract being concluded can be supplemented with an option "annual indexation of insurance premium", i.e. the clients can increase insurance premium with accompanying increase in insurance amount. The clients can choose between several degrees of indexation.

At the contract conclusion stage, clients do not need to undergo medical examination.

* The actual and potential clients of Barclays Bank were asked to describe their consumer preferences during the survey conducted by the National Agency for Financial Research in May 2009. The sample includes more than 700 respondents from Moscow and St. Petersburg.