The proposals include:
- The closure of Allianz’s Bristol Claims Handling Centre. As the transfer of the personal lines business to LV= concludes, Allianz no longer has the necessary economies of scale to continue to operate from this site. The remaining work will be absorbed across Allianz’s claims operations in Milton Keynes, Birmingham and Guildford.
- A review of Allianz’s overall claims service to make sure it is fit for the future - the right size and shape, with the right skills and technologies at the right locations. This will impact a number of roles across the rest of Allianz Claims.
Employees have been briefed and the business will now enter a consultation process. Whilst these proposals put 128 roles at risk of redundancy, there will be approximately 60 roles created through the proposed relocations and restructure. Redeploying as many people as possible will be a key objective, should these proposals go ahead.
Chief claims officer, Graham Gibson, commented:
"As a forward-thinking organisation, we’re continually reviewing our operation to ensure that we remain competitive and continue delivering the best possible service. While today’s proposal will unfortunately put roles at risk, in the long term streamlining our structure will help strengthen our resource for an improved customer journey enabled by increased automation and an improved digital proposition.
"Our priority now is to support our people through this period of uncertainty, while maintaining a high level of service for our customers. We have a strong and highly-skilled team and will do everything we can to redeploy them or assist them in finding suitable alternative employment if the proposals are accepted."
Should the proposals go ahead, the changes are expected to be completed in Q4 2019.
The information contained in this press release relates to Allianz Insurance plc. Allianz Insurance plc is one of the largest general insurers in the UK and part of the Allianz Group.
About Allianz Holdings plc
Allianz Holdings plc is the non-regulated holding company which owns the principal insurance operations of Allianz SE in Great Britain.
The Allianz Group is one of the world's leading insurers and asset managers with more than 100 million* private and corporate customers in more than 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing 790 billion euros on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage 1.7 trillion euros of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we are amongst the leaders in the insurance industry in the Dow Jones Sustainability Index. In 2020, over 150,000 employees achieved total revenues of 140 billion euros and an operating profit of 10.8 billion euros for the group.
These assessments are, as always, subject to the disclaimer provided below.
Cautionary note regarding forward-looking statements
This document includes forward-looking statements, such as prospects or expectations, that are based on management's current views and assumptions and subject to known and unknown risks and uncertainties. Actual results, performance figures, or events may differ significantly from those expressed or implied in such forward-looking statements. Deviations may arise due to changes in factors including, but not limited to, the following: (i) the general economic and competitive situation in the Allianz Group's core business and core markets, (ii) the performance of financial markets (in particular market volatility, liquidity, and credit events), (iii) the frequency and severity of insured loss events, including those resulting from natural catastrophes, and the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) particularly in the banking business, the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates, most notably the EUR/USD exchange rate, (ix) changes in laws and regulations, including tax regulations, (x) the impact of acquisitions including and related integration issues and reorganization measures, and (xi) the general competitive conditions that, in each individual case, apply at a local, regional, national, and/or global level. Many of these changes can be exacerbated by terrorist activities.
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The Allianz Group assumes no obligation to update any information or forward-looking statement contained herein, save for any information we are required to disclose by law.
*Including non-consolidated entities with Allianz customers.