Omnicom Group said today it has signed a multi-year agreement with insurance giant Allianz for creative and production services.
Omnicom will produce work for Allianz on a global and local level via the deal, offering creative and brand strategy services in more than 70 countries that Allianz operates in.
The global relationship will be managed by a new Omnicom unit called the "A-Lab." It's comprised of a multi-disciplinary team of leaders who will pull together teams for individual projects from both inside and outside the holding company, depending on the specific needs of individual projects.
The agreement follows a competitive pitch.
Allianz’ revenues dipped slightly last year (about 1%) to €140.5 billion ($167 billion). It spent about $160 million on measured media globally according to COMvergence.