Consolidated has been charged with handling a corporate media relations brief, focused on building the company's presence in the UK national media as well as trade titles.
It is understood to involve an element of consumer outreach, but will also look to boost the firm's profile with potential business customers.
The agency won a three-way pitch, replacing two-and-a-half year incumbent Grayling, which did not repitch for the business.
The agency will report directly to Mark Bishop, group comms manager at Allianz Insurance.
The company is a division of Munich-based Allianz SE Group and the parent company's agency relationships remain unaffected.
Allianz Group bought British insurance firm Cornhill in 1986 and renamed it Allianz Cornhill before undergoing another name change to Allianz Insurance in 2007.
Allianz Insurance encompasses a number of trading divisions, including Allianz Commercial, Allianz Retail, Cornhill Direct for personal insurance products and Petplan for animal insurance.