Latest news with #Allianz
The Sun
2 hours ago
- Business
- The Sun
Supermarket bank sells off more major services in big update for 1,000s of customers – check how you're affected
A SUPERMARKET bank has sold off more of its major services as part of a shake-up that will affect thousands of customers. The supermarket giant has sold off its travel money and car and home insurance businesses as it plans to focus on its food offering. 1 It has sold its car and home insurance arm to Allianz, one of the largest general insurers in the UK. Customers who currently have insurance through Sainsbury's will be contacted later this year when their renewal is up. Those who are auto-renewing their policies will start moving to Allianz from November 2025. Meanwhile the travel money business will be sold to financial services and foreign exchange company Fexco Group. Customers will continue to be able to access services at over 220 travel money bureaux in Sainsbury's stores and online – an estate which currently represents almost 10 per cent of the UK market. Sainsbury's currently has over 220 travel money kiosks across the country. It comes after the supermarket revealed in January last year that it is set to close its banking business. Sainsbury's Bank, which currently has about 1.9million customers, will be wound down as the supermarket says it wants to focus on "food first". It said there would be a "phased withdrawal" of the banking business. The Sun understands the Sainsbury's Bank brand may start to disappear from the end of the year, but nothing is confirmed yet. Sainsbury's scraps in-store changing rooms leaving shoppers furious Sainsbury's already outsources its insurance products, and its Argos credit cards and loans to about 2.1million customers. We revealed earlier this month that NatWest is taking on Sainsbury's Bank customers and will complete the transfer by December this year. The High Court granted approval in April to pave way for the switch. Legal ownership of credit cards, loans, and savings accounts officially moved to NatWest on May 1. But the transfer of these accounts to NatWest's systems will begin from October and be completed by December. Credit card holders will start receiving details about changes to their accounts this month. Between August and September, customers with loans or savings accounts will get updates about their accounts. From September to October, NatWest will provide instructions on next steps, including how to sign up for its digital banking, while Sainsbury's Bank will send a farewell message.
Malay Mail
a day ago
- Automotive
- Malay Mail
In a tight spot? Meet the robot-like compact alternative to van-based EV chargers
KUALA LUMPUR, July 29 — Allianz Malaysia is one of the very few insurance companies in Malaysia that offers a dedicated protection plan for electric vehicles (EV). Called EV Shield, the plan was launched early last year and is being provided at no extra cost to EV owners who insured their vehicle with Allianz. One of the main benefits of EV Shield is the ability to have a mobile DC charger to recharge your vehicle in case it runs out of battery during your journey. The mobile DC charger is usually housed inside a van, but Allianz has recently added a different 'type' of mobile DC charger to its EV Rangers fleet. Meet the Allianz EV RoboRanger It comes in the form of the EV RoboRanger, which is the name that Allianz gives to its new compact mobile DC charger on wheels. While the Allianz EV RoboRanger has already been in service since June, the recent BYD Atto 2's launch event was the first time that we saw it in action. Despite the 'Robo' moniker in its name, this is not a true robotic EV charger, though, as it has neither self-driving capability nor robotic charging arms. So, don't expect it to be able to perform autonomous charging as per the likes of Zeekr and StarCharge robotic EV chargers that we encountered in China recently. The actual remote control for Allianz EV RoboRanger. — SoyaCincau pic Instead, the operator handles the movement of the mobile DC charger via a remote control. That being said, the charger is equipped with safety sensors that allows it to automatically stop if the charger detects there is a person or an obstacle blocking its way. According to Allianz Malaysia's representative, the EV RoboRanger that the company showcased during Atto 2's launch weekend has a built-in 90kWh battery and can deliver a DC charging speed of up to 80kW. However, the representative did not reveal the charger's manufacturer as well as its cost to us. What scenarios require the deployment of EV RoboRanger? We were told that while the van-based mobile DC charger that Allianz put into service last year is adequate for most cases, certain locations might be too narrow for the van. After all, the operator needs to park the van next to the customer's vehicle when the mobile DC charging is in operation, and it might block the path of other vehicles within the area. As a comparison, the EV RoboRanger has a much smaller footprint than a typical Allianz EV Ranger van. Allianz EV RoboRanger on duty at BYD Atto 2 launch last week. Its appearance during the BYD Atto 2 launch event throughout last weekend also showed other potential usage of the EV RoboRanger beyond just a rescue tool. During our time there, we noticed the test drive units were being charged by the RoboRanger as well as another van-based mobile DC charger. We have no knowledge of the exact arrangement between Allianz and Sime Motors for the event, but from what we can see, it has probably helped the latter save some time since the event crew don't have to drive out to recharge the test drive units. All they need to do is have the Allianz EV Ranger crew members to 'drive' the RoboRanger to the units that need to be recharged and initiate charging. The van-based mobile DC charger that Allianz put into service in 2024 is adequate for most cases, but certain locations might be too narrow for the van. — SoyaCincau pic Allianz EV Shield: What is it all about? As noted earlier, Allianz provided EV Shield to its customers at no extra cost. Aside from having access to on-site charging for stranded vehicles in Klang Valley, Penang, Kuantan, and Johor Bahru, there's also the 24-hour towing service, which would bring their EVs to the nearest charging station or home, if required. Allianz EV Shield also covers the usage of EV chargers. If you somehow got injured or your EV is damaged while using a public EV charger, the EV Shield provides up to RM5,000 of compassionate cover. The EV Shield also has a personal liability coverage of up to RM50,000 if there is death or bodily injury to a third party from using the home wall charger to charge your EV in your residence. It also covers damages to third-party property. Meanwhile, customers can also claim up to RM15,000 to repair or replace the home EV charger if it gets damaged by fire, lightning, natural disasters or even gets stolen outright. Not only that, you can claim up to RM2,000 if your EV charging cable is lost or damaged during a fire, theft, accidental collision, or overturning. — SoyaCincau
USA Today
2 days ago
- Business
- USA Today
A majority of customers' personal information stolen in data breach at Allianz Life
Allianz Life experienced a cyberattack earlier this month, resulting in the theft of personal information for the majority of its 1.4 million customers, financial professionals and some employees in the United States. The insurance giant confirmed to USA TODAY on July 28 that hackers used a social engineering technique on July 16 to gain access to a "third-party, cloud-based" system used by the company. "We took immediate action to contain and mitigate the issue and notified the FBI," Brett Weinberg, a spokesman for Allianz Life, said in a statement. Allianz revealed the data breach on July 26 in a legally required filing with Maine's attorney general, as first reported by TechCrunch, but did not disclose the number of customers affected. The insurance company has been contacting individuals whose data was compromised and is expected to notify all affected customers by Aug. 1. According to the filing, the company is offering "24 months of identity theft restoration and credit monitoring through Kroll" to those affected. Allianz officials told Reuters that there is no evidence to suggest that the company's network or other systems were accessed, including its policy administration system. How many people are employed by Allianz Life? According to its website, Allianz Life Insurance of North America employs approximately 2,000 people in the United States, with headquarters located in Minnesota. Where is Allianz located? Allianz Life is one of five affiliate companies of Allianz in North America, as stated on the company's website. Allianz SE, a Munich-based global financial services group, acquired North American Life and Casualty in 1979 and changed its name to Allianz Life Insurance Company of North America. Allianz SE serves over 125 million customers worldwide. How many people are affected by the data breach? The company has not provided the exact number of customers impacted by the breach. In a statement, Allianz Life said the hackers were able to obtain "personally identifiable data" of the majority of the company's customers in the United States. There are about 1.4 million Allianz Life customers in the country.
Yahoo
2 days ago
- Business
- Yahoo
The New Big Fear In Retirement Planning Is 100% Legit — How To Tackle It
American confidence in retirement planning is at an all-time low, dropping from 83% in 2020 to only 70% in 2025, according to the Allianz Center for the Future of Retirement's '2025 Annual Retirement Study.' The research found that instead of looking forward to their golden years, Americans are more fearful than ever. Be Aware: Explore More: While numerous factors contribute to this fear-based mindset, the most prominent is the ability to save. Only around 55% of Americans are currently saving enough to support their retirement years, with only 48% of millennials, 59% of Gen Xers and 74% of boomers putting enough aside to live comfortably after retirement. But what additional factors play a role in the growing fear surrounding retirement planning, and what steps can you take to tackle them? Having a plan in place can help restore your confidence and make planning for retirement more successful. Factors Impacting Retirement Planning The ability to save enough money for retirement is Americans' biggest fear, but other factors directly impact the ability to do so. Here are a few. Increasing Healthcare Costs As healthcare costs continue to increase, they account for a larger portion of many Americans' retirement savings. Even with insurance, healthcare expenses can make it difficult to save and maintain those savings long-term. For You: Inflation As the dollar loses its value, retirement savings effectively shrink. Inflation's devastating impact on purchasing power means retirees must have a larger income to support their lifestyle in retirement. Stock Market Fluctuations Volatility in the stock market can wreak havoc on retirement portfolios, causing anxiety for the millions of Americans who rely on their investment income. Uncertainty surrounding the stability of these investments can make retirement planning even more challenging. Recession While the American economy isn't currently in a recession, a whopping 62% of Americans cite it as a large concern when planning for retirement. A global or national financial crisis could devastate many retirement portfolios, wiping out a lifetime of savings. How To Overcome Retirement Planning Fears Tackling the fear of having enough saved for retirement can seem overwhelming, but with common-sense solutions, you can help set yourself up for long-term financial success. Develop a Comprehensive Retirement Strategy Creating a comprehensive retirement strategy that outlines your financial goals, budget and ways to increase your savings can keep you on track and ready when the unexpected occurs. Consider Guaranteed Income Options Having a steady, guaranteed income can offer unmatched peace of mind during retirement. Options like annuities are great, especially when started early. Research Healthcare Options Researching your healthcare options, such as Medicaid plans, Health Savings Accounts and supplemental insurance, can help you offset large healthcare costs. Plan for Market Volatility Diversifying your assets can protect your savings during market fluctuations and help you maintain a steady income throughout your retirement. Creating a plan to grow and protect your savings will give you confidence as you plan for retirement. Whether you work with a financial advisor or tackle it yourself, having a sound financial strategy will help mitigate long-term risk for a financially secure retirement. More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard Warren Buffett: 10 Things Poor People Waste Money On 7 Luxury SUVs That Will Become Affordable in 2025 This article originally appeared on The New Big Fear In Retirement Planning Is 100% Legit — How To Tackle It
Yahoo
2 days ago
- Business
- Yahoo
The New Big Fear In Retirement Planning Is 100% Legit — How To Tackle It
American confidence in retirement planning is at an all-time low, dropping from 83% in 2020 to only 70% in 2025, according to the Allianz Center for the Future of Retirement's '2025 Annual Retirement Study.' The research found that instead of looking forward to their golden years, Americans are more fearful than ever. Be Aware: Explore More: While numerous factors contribute to this fear-based mindset, the most prominent is the ability to save. Only around 55% of Americans are currently saving enough to support their retirement years, with only 48% of millennials, 59% of Gen Xers and 74% of boomers putting enough aside to live comfortably after retirement. But what additional factors play a role in the growing fear surrounding retirement planning, and what steps can you take to tackle them? Having a plan in place can help restore your confidence and make planning for retirement more successful. Factors Impacting Retirement Planning The ability to save enough money for retirement is Americans' biggest fear, but other factors directly impact the ability to do so. Here are a few. Increasing Healthcare Costs As healthcare costs continue to increase, they account for a larger portion of many Americans' retirement savings. Even with insurance, healthcare expenses can make it difficult to save and maintain those savings long-term. For You: Inflation As the dollar loses its value, retirement savings effectively shrink. Inflation's devastating impact on purchasing power means retirees must have a larger income to support their lifestyle in retirement. Stock Market Fluctuations Volatility in the stock market can wreak havoc on retirement portfolios, causing anxiety for the millions of Americans who rely on their investment income. Uncertainty surrounding the stability of these investments can make retirement planning even more challenging. Recession While the American economy isn't currently in a recession, a whopping 62% of Americans cite it as a large concern when planning for retirement. A global or national financial crisis could devastate many retirement portfolios, wiping out a lifetime of savings. How To Overcome Retirement Planning Fears Tackling the fear of having enough saved for retirement can seem overwhelming, but with common-sense solutions, you can help set yourself up for long-term financial success. Develop a Comprehensive Retirement Strategy Creating a comprehensive retirement strategy that outlines your financial goals, budget and ways to increase your savings can keep you on track and ready when the unexpected occurs. Consider Guaranteed Income Options Having a steady, guaranteed income can offer unmatched peace of mind during retirement. Options like annuities are great, especially when started early. Research Healthcare Options Researching your healthcare options, such as Medicaid plans, Health Savings Accounts and supplemental insurance, can help you offset large healthcare costs. Plan for Market Volatility Diversifying your assets can protect your savings during market fluctuations and help you maintain a steady income throughout your retirement. Creating a plan to grow and protect your savings will give you confidence as you plan for retirement. Whether you work with a financial advisor or tackle it yourself, having a sound financial strategy will help mitigate long-term risk for a financially secure retirement. More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard 5 Cities You Need To Consider If You're Retiring in 2025 4 Housing Markets That Have Plummeted in Value Over the Past 5 Years This article originally appeared on The New Big Fear In Retirement Planning Is 100% Legit — How To Tackle It
