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Allianz Worldwide Partners USA saw a 30% year-over-year revenue increase in 2017, the company has announced.
Allianz Worldwide Partners USA posted $954 million in revenue for the year. The US business unit of Allianz Partners provided insurance to 35 million customers in 2017 through travel insurance, event ticket, registration protection, tuition insurance and other specialty products. The company also won 18 industry awards last year, including Travel Weekly’s Reader’s Choice Award for best insurance provider. The company also redesigned its TravelSmart mobile app and debuted a new ancillary revenue platform, Fusion CORE, for its partners.
“We’re proud of the achievements of our associates to deliver these outstanding results in 2017,” said Mike Nelson, global CEO of travel insurance, regional CEO for the Americas, and member of the board at Allianz Partners. “In addition to our outstanding revenue growth, we’re very pleased with the advances we’ve made in creating exceptional products and customer experiences while providing even more value to our partners.”
The Allianz Worldwide Partners Americas region also saw rapid growth during the year, the company said.
“In 2017 we experienced tremendous growth in the Americas region, achieving revenue of 1.452 billion euros, which was 25% higher than the prior year,” Nelson said. “Beyond our strong numbers, we continued to deliver great value, innovation and quality of service to our partners’ valued customers across the board.”
Globally, Allianz Partners announced 8.461 billion euros in total revenue and an operating profit of more than 406 million euros for 2017.
“Our 2017 growth confirms the importance of our innovation-driven strategy and our capability to rejuvenate ourselves in this competitive market by creating comprehensive offers,” said Rémi Grenier, president of Allianz Partners. “Once again, our capacity to deliver on a large scale and our customer reach in assistance, travel, international health and automotive has paid off. At Allianz Partners, we are undertaking a profound transformation which will enable us to better anticipate the constantly evolving needs of our customers and to understand the next generation’s solutions in a transversal organization. This year’s results validate our ambition to build an agile, fast and efficient partnership with our clients.”
