Allianz and AIMS have entered into a personal lines deal to provide home and contents insurance.

The Austbrokers/IBNA Vital Home and Contents product will offer catastrophe-type cover with no accidental damage or fusion and is expected to be available electronically to the group’s brokers through Sunrise Exchange from May 19.

The product will compete in the “hotly contested” direct domestic insurance market, an Allianz spokesman told insuranceNEWS.com.au.

“The product coverage, premium and commission structure enables the product to compare favourably with the expectations of this segment,” he said, while declining to give further details.

It’s understood the personal lines product provides brokers with two optional levels of commission, allowing brokers greater flexibility in servicing clients and making them more competitive.

AIMS is a joint venture between Austbrokers and IBNA.