OREANDA-NEWS. November 18, 2010. Avtomir Group, Russia’s largest car dealer featuring 22 leading car brands, has become the new partner of IC Allianz ROSNO Life in selling life insurance policies, reported the press-centre of ROSNO.

From now on, Avtomir showrooms, along with classical insurance types, will be offering a risk-based life insurance box product "Formula Zaschity" (Protection Formula) developed by IC Allianz ROSNO Life. This program has been designed to provide financial protection to clients and their family members in case of any unforeseen circumstances, such as traffic accidents or other events affecting life and health of insurants.

The product’s competitive advantages are uniqueness of insurance coverage, absence of underwriting and large insurance compensations. Protection Formula guarantees clients a 24-hour insurance protection throughout the world. The insurance coverage protects against the following risks: death due to any reason, including traffic accident; disability or injury caused by traffic accident. While insurance premium is quite low, insurance compensation may reach 4 mln roubles, with payment effected within 5 business days. The policy is valid for 1 year, enabling insurants to purchase life insurance at the same time when acquiring or extending their motor insurance policies. The product has been developed by Allianz ROSNO Life specifically for the purpose of promotion via car dealer networks pursuant to its sales channels diversification strategy.

The clients of Avtomir Group may purchase the Protection Formula product in all 17 dealer centres in Moscow and the Moscow Region. No additional underwriting is needed to conclude the contract.

Mr. Nikolai Timofeev, Deputy CEO of Allianz ROSNO Life, comments on the start of the new partnership: "Pursuant to our market management concept, we are developing products meeting the needs of each client group and each sales channel. Protection Formula is a vivid example of such product. It is important for car owners needing not only insurance coverage for their new cars, but also financial protection of their life and health. In addition, such policy is issued promptly and without any additional underwriting, which is most suitable for sales by car showroom managers and also convenient for clients. Therefore, cooperation with Avtomir Group is an opportunity to enter a new client segment. We are certain that the unique features of this product, and the professionalism of Avtomir employees, along with the comprehensive support of sales by Allianz ROSNO Life guarantee success of our partnership".