Allianz China awarded as best foreign P&C insurer

Klaus Voeste, CEO of AZCN and Mr. Heqi, head of Sales & Marketing Department attended the award ceremony. Klaus Voeste said: "We are delighted that our efforts for pursuing operational efficiency and maintaining stable growth have been recognized with the Golden Dragon Award."

Since its establishment seven years ago, AZCN offers a series of insurance products including property, liability, marine, engineering, and domestic credit insurance, as well as short-term health insurance and accident insurance for clients within the province of Guangdong including Shenzhen. At the same time, AZCN also underwrites Large Scale Commercial Risk throughout the country, thereby meeting the needs of all kinds of risk management for both corporations and individuals. In addition to its traditional product line, AZCN kept bringing innovative products in the market by introducing Film/TV Production Insurance, Film Producer Error and Omission Liability Insurance and Yacht Insurance. These products are developed to meet market and customer needs.

With its relentless pursuit for best customer service, AZCN implemented a global operational excellence program introduced by Allianz to enhance internal business processes in all areas. It greatly enhanced the efficiency in quotation, policy issuance, the settling of claims as well as SMS platform for customers. The continuous focus on the customer and the improvement of the service platform, led to a huge jump in customer satisfaction.

Thanks to AZCN's persistent efforts, it maintained stable business growth and achieved very good results with a GWP over 290 million RMB in 2009. In the mean time, AZCN actively expanded businesses by opening sales centres in Shenzhen, Dongguan, Foshan and Jiangmen. In July 2010, AZCN was successfully converted into a Guangzhou based subsidiary, fully owned by Allianz. Now, it can apply for branches and conduct business in Provinces, Autonomous Regions and Municipalities beyond the Guangdong province, on the southern coast of mainland China.

The Golden Dragon Award of Chinese financial institution was jointly hosted by China Financial News and the Chinese Academy of Social Sciences, aiming to build the biggest brands in financial circles and to develop a better and healthy financial market. Since its inception in 2008, this award has become the most important annual event in the financial industry in China. The award is based on the indicators of the market share, capital, reserves, profitability, asset flow and operational stability.

 
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