The Allianz Group has agreed on a partnership with the BMW WilliamsF1 Team and a unique safety collaboration with the FIA, the governing body of world motorsport. As Dr. Henning Schulte- Noelle, Chairman of the Allianz Group’s Board announced during the annual press conference on May 19 in Munich, the long term co-operation with the BMW WilliamsF1 Team contractually agreed on the previous day includes global sponsoring activities, mutual technical know-how transfer and collaboration in risk management and in the field of insurance and financial service.

According to Schulte-Noelle, “financial involvement this season and the next two years will lie well below 5% of the Allianz Group’s global marketing budget per annum.” In connection with Formula One racing, which captures the attention of some 300 million people every race weekend, this would, adds Michael Diekmann, member of the Allianz Group board, “increase the brand awareness of the Allianz Group with great and sustained efficiency, especially in our key future markets Asia/Pacific and Latin America. We will profit from it, and so will our shareholders.”

Besides worldwide effective sponsoring, the areas of risk management and safety in technology will also play a major part in the co-operation. One of the aims of the collaboration between the BMW WilliamsF1 Team and Allianz and its Center for Technology is to further optimise the high safety standards in Formula One racing and in industry and to make them available to the general public in order to create added value for private and industrial customers — through the development of additional high-tech safety standards and further improvements in the active and passive safety of vehicles. The first joint projects have been planned in the areas of traffic safety and material research, where the Allianz Center for Technology has been able to achieve considerable results in collaboration with automobile companies in the past. The agreed collaboration with the FIA, the governing body of world motorsport and representative of more than 100 million drivers worldwide, also serves the purpose of improving traffic safety.

“We are looking forward to working with the BMW WilliamsF1 Team and the FIA”, said Allianz boss Dr. Schulte-Noelle, underlining the importance of these development partnerships which will combine competencies and create added value for safety through know-how transfer.

Allianz has always seen its tasks as recognising risks before they arise, preventing damage or at least limiting its effects, not being just an insurer but a development partner — and providing security. This is why it has for many decades conducted research into accidents and causes of damage in many areas of railway and road traffic, shipping, aviation and space flight, in the field of power stations, industrial plants, large-scale building projects and technical facilities of all kinds. For Allianz this forms the foundation for new, targeted safety and damage prevention concepts and, for example, innovation in repairs.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.