Insurance giant Allianz plans up to 1,800 job cuts, mainly in call centres, as AI handles routine enquiries across European operations
FRANKFURT: German insurance giant Allianz has signalled impending job cuts as it accelerates adoption of artificial intelligence across its operations.
Allianz Partners, the company’s travel insurance subsidiary, confirmed it is “leveraging AI” to strengthen its market position and improve service delivery.
The technological transformation could “impact positions which are heavily reliant on manual processes today,” according to a company statement.
While a company spokesperson declined to provide specific figures, German newspaper Sueddeutsche Zeitung reported between 1,500 and 1,800 positions could be eliminated within 12 to 18 months.
The planned cuts represent up to 8% of Allianz Partners’ 22,600 global workforce, with many affected employees working in call centres.
Job reductions are expected across operations in Germany, France, Spain and Britain, according to the newspaper report.
Sources close to the company told AFP that discussions with staff representatives remain at an early stage.
Allianz Partners currently handles approximately 200,000 calls daily worldwide, many involving routine enquiries like claim status updates.
Future operations will see many such customer interactions managed through automated AI response systems.
The job cut announcements come despite Allianz reporting strong financial performance, with third-quarter profits showing a sharp increase earlier this month.
The insurance group has subsequently raised its full-year outlook, indicating robust financial health.
Allianz joins numerous companies announcing workforce reductions as AI technology adoption accelerates across multiple industries. – AFP
