Allianz to cut up to 1,800 jobs due to AI advances

[MUNICH] German insurance group Allianz plans to cut up to 1,800 jobs in its travel insurance division, mainly in call centres, as artificial intelligence increasingly replaces manual processes, a source familiar with the plans told Reuters on Wednesday (Nov 26).

Between 1,500 and 1,800 jobs are set to be eliminated at Allianz Partners over the next 12 to 18 months, the source said.

Allianz Partners employs 22,600 people, roughly 14,000 of whom handle customer inquiries and claims by phone.

Industry publication Versicherungsmonitor first reported on the plans.

The insurance group declined to comment specifically on the planned job reductions.

Allianz Partners said in a statement that it is actively examining how technological change will affect all employees, which could “also impact roles that are currently heavily reliant on manual processes”.

A company spokesperson said that confidential talks with the works councils were currently taking place. REUTERS