Allianz Partners, a subsidiary of the company that deals primarily with travel insurance policies, reportedly said it is “leveraging AI” in order to strengthen its position in the insurance industry and improve its services. (Credit: your123/Adobe Stock)
Allianz reportedly has plans to cut between 1,500 and 1,800 positions from its travel insurance division over the next 18 months as a result of AI advancements. The eliminated positions will mostly be from its call centers, where the technology is quickly replacing manual processes.
Allianz Partners, a subsidiary of the company that deals primarily with travel insurance policies, reportedly said it is “leveraging AI” in order to strengthen its position in the insurance industry and improve its services.
The insurer currently employs approximately 22,600 people, with around 14,000 of those handling customer questions and claims by phone.
This news was originally reported by the Sueddeutsche Zeitung newspaper, citing company sources. The newspaper reports that these jobs will be culled from employees in Germany, France, Spain and Britain.
These potential job reductions follow an announcement from Allianz in June that it would eliminate 650 roles from its UK general insurance division by the end of 2025.
Allianz Partners reportedly receives around 200,000 calls from around the world each day, most concerning simple insurance and claim issues. However, in the future, many of these inquiries will likely be handled by automated AI tools.
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