Achmea launches Canadian online insurance proposition in partnership with Fairfax
Achmea has signed an agreement with Fairfax Financial, a Canadian holding company, to jointly provide a fully digital property and casualty insurance proposition under the new Onlia brand. A unique home and auto insurance offering in Canada will be launched later this year through the joint venture partnership.
In Canada, Onlia will operate on the fully online IT-platform of InShared, the digital property and casualty insurer of Achmea. In addition to this unique IT platform, Onlia will benefit from Achmea’s strong digital insurance experience in the Netherlands, and other European markets, where other similar digital non-life insurance propositions are offered.
Willem van Duin, Chairman of the Executive Board of Achmea, said: “Starting in Canada fits well with the international strategy of Achmea, which, among other things, focuses on growth via the core competencies of the group, online and direct distribution. The Canadian market is attractive, given its population of over 35 million, expected growth and the continuing shift in personal lines to direct and online distribution
“We are very excited to become partners with Achmea,” said Prem Watsa, Chairman and Chief Executive Officer of Fairfax. “Achmea has an excellent long-term track record and tremendous experience as one of the leading digital insurers in Europe. We look forward to working with Achmea and to growing Onlia with the team led by Pieter Louter over the long-term in Canada.”
For more information on Onlia, visit: www.onlia.ca or @OnliaCA
Established in 1811, today Achmea is the largest insurance group in the Netherlands. In its home market, Achmea is market leader in non-life and health insurance. Gross written premiums for the group totalled approximately 20 billion euros over 2017, while the group’s solvency ratio remained strong at 184%. The group also offers income protection insurance, life insurance, pensions services and mortgages. Asset manager Achmea Investment Management, oversees over 120 billion euros in assets under management. Internationally, Achmea is active in Turkey, Greece, Australia, Slovakia and Canada. Each insurer has deep understanding of its local market and customers. Early June 2018, Achmea announced that it will partner with Zurich Insurance Group to improve business efficiency, also using the online technology of InShared.