German insurer Talanx has expanded its sales partnership with Deutsche Bank to assist the bank’s clients in the area of credit insurance.
This ten-year agreement allows retail clients at Deutsche Bank, Postbank and BHW Bausparkasse to insure their consumer and mortgage loans exclusively with Talanx, starting 1 January 2023.
The move follows the long-term sales cooperation agreement inked by both parties in September this year, for life and property insurance.
Talanx’s PB insurers brand has been the exclusive partner for Postbank and BHW since 1998.
Commenting on the development, Deutsche Bank head of Product Management Private Bank Germany Achim Kuhn said: “The Talanx Group has a multi-year track record as a capable supplier of credit insurance products for our Postbank and BHW brand customers. I am pleased to announce that all Private Bank Germany clients will be able to access this attractive offering as from January 2023.”
Talanx Group Board of Management member responsible for the Retail Germany Division Dr. Christopher Lohmann said: “We are delighted to be extending our cooperation with Deutsche Bank. This long-term agreement and the expansion of our existing partnership to additional Deutsche Bank brands show the high level of trust placed in us and our bancassurance expertise, as well as in our products and customer service.”
Last year, Talanx formed a strategic partnership with Swiss Life to foster co-operation in a number of areas including distribution, life insurance solutions in international markets and life reinsurance.
In 2018, Deutsche Bank inked an agreement with Berlin-based insurance technology company Friendsurance to provide a simple and more transparent way for clients to manage their insurance needs.