British Insurance Awards 2019: Transformational Deal of the Year - LV General Insurance & Allianz Insurance
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Winner: LV General Insurance & Allianz Insurance
Shortlist
- Sedgwick International UK acquisition of Cunningham Lindsey UK, Cunningham Lindsey International and integration with Vericlaim UK
- Verisk – Validus IVC acquisition
Delivering a large-scale business transformation smoothly is no easy task yet LV General Insurance and Allianz Insurance, winners of Transformational Deal of the Year award, pulled it off with real flair.
A concerted focus on broker and customer outcomes allowed both organisations to develop joint processes and propositions to better serve their personal lines insurance customers in the future.
Sharing intellectual property, technical excellence and potential, the deal has also brought accelerated innovation and growth through the combination of digital capabilities.
It was vital to both LV GI and Allianz that great business service was maintained throughout, so a joint business transition plan was created and cross-organisational project teams were established.
A key aspect to the success of the deal was ensuring buy-in from staff during the transition period. Employees were kept well informed and involved throughout and redeployed where possible within the two businesses.
Through close collaboration and innovative problem-solving, outcomes and deadlines were successfully achieved and employee engagement across LV and Allianz actually increased during the transitional period.
“This fits all the criteria,” observed one judge: “Innovation, increase in brand awareness, increase in customers, great financial engineering.”
This award is a credit to the hard work of the people at LV and Allianz who worked to make a success of the strategic partnership and, in particular, the transfer of the commercial and personal broker portfolios. It was a real team effort and it’s fantastic to see the achievements of our people recognised.
Mike Crane, managing director, LV Broker
I’m absolutely delighted that between Allianz and LV, we won no less than seven awards last night. It was great to feel a real sense of camaraderie between us. Through close collaboration and innovative problem-solving, we delivered a large-scale business transformation quickly, smoothly and with total focus on broker and customer outcomes.
Jon Dye, CEO, Allianz Insurance
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