Allianz Partners Australia has launched a new self-serve portal to automatically calculate premium refunds that customers impacted by COVID-19 customers might be entitled to.

The portal is significantly cutting process times, with many customers getting money back in as little as three business days, Allianz says.

The portal, which calculates and issues partial or full refunds of unused premium, was developed in less than three months. It covers travel policies that have gone unused, rental vehicle excess and event ticket insurance.

Allianz Partners has already refunded more than $8.5 million to around 24,500 people. Up to $12 million could be returned to more than 100,000 Australian policyholders via the portal over coming months.

Chief Market Manager at Allianz Partners Australia Damien Arthur, says customers whose plans were impacted by COVID-19 began receiving refunds in June, and Allianz has already manually refunded more than 16,000 customer policies.

“The new portal is enabling us to process refunds much quicker to help provide customers with a faster, more positive experience,” Mr Arthur said.

Allianz customers can check their eligibility by visiting www.policymanager.com.au/aga.