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Allianz Share Their Digital Transformation Journey

The Allianz Group is one of the leading integrated financial services providers worldwide, serving approximately 85 million customers in more than 70 countries. Let's learn more about how a company of this size would tackle the digital transformation.

The Allianz Group has a reputation for being one of the best integrated financial services providers in the world. The group serves an incredible 85 million customers in over than 70 countries. But I wanted to find out more about the technology behind their operation and the number of applications needed to deliver success on a grand scale.

I wanted to learn more about how a company of this size would tackle the digital transformation. Behind the scenes, there are 15 customer portals with more than 50 application lines and over 20 applications; 10,000 websites for agents, brokers and 5,000 websites for employees and employers.

Some would argue having to create content pages for over a million users per month, which can be calculated over 500,000 insurance offers to potential customers are nice problems to have. But, how challenging has it been to bring the vision of seamless customer experiences across a myriad of devices to life?

At the Adobe Summit, I spoke with Georgios Kargakis from Allianz who is helping to lead a digital transformation strategy. The objective is to create better experiences for their customers and the insurance sector. But I also wanted to find out more about how this traditional business was adjusting to a new digital economy where disruption and agile startups were reshaping multiple industries.

As a soccer fan, whenever I hear about Allianz, I instantly think of Europe’s most modern stadium, the Allianz Arena. Upon seeing it for the first time, I immediately think of innovation and technology. From the outside looking in, it seems like Allianz is trying to offer customers a chance to experience these innovations firsthand and in turn, be inspired to grab new opportunities without fear.

Is it essential for Allianz to form partnerships with organizations that share your belief and embracing new ways of thinking and leveraging technology?

Yes, everybody knows the Allianz stadium. That’s entirely correct, and of course, it all started in Munich with a great team in Germany. When you think of customers and what are their needs, you want your brand to have an impact on the markets.

You also have to think of, where are all these experiences and happiness taking place in the everyday lives of our customers. This is why Allianz is investing in introducing new programs, and the stadium sponsorships are one big part of an initiative of being there where our customers are.

You are working on the digital transformation of Allianz. Can you share some of the technological developments and how they’re enabling you to transform your business?

Today if you want to purchase motor insurance, you will have five process steps where you have to enter your data. Ensuring there is an autosave function that will prevent a customer from having to re-enter the information if their browser crashes is an easy function to add. But why not make the actual process easier too and reduce to one, two or three steps, this is our approach.

The challenge is to make everything more accessible, understandable and enable customers to get what they want in seconds. ROPO (research online purchase offline) experiences are currently time-consuming and very complicated, but we are changing that.

Are you finding that consumers are buying experiences rather than products now and that it’s about the relationship rather than the transaction?

I’m a big believer that customers are buying an experience rather than products. If you match that to the insurance sector, it’s experience based on trust., right? We’re in a lot of discussions with startups, and we also are observing and questioning, some of them.

For example, we are in partnership with lemonade in the US, which is kind of a startup lighthouse project and the insurance sector and of course, we’re learning a lot.

Are there any other ways that digitalization and creativity are helping you transform your business?

We are transforming everything, not just what we’re doing with the products or the systems we’re building, but also how we are collaborating, creating with co-locating lean startup methods and design thinking methodologies.

We also try to empower our people to be more self-confident, to bring this creativity in and take a responsibility from end to end. We’re mixing teams from across all business areas, and of course with IT being very cross-functional. So, there’s much, much change happening day by day and we’re learning of course.

Although we still have a great deal of work to do, the employees and management are all continuously learning. We strive off creating ultimate customer experiences that will have even have more impact.

You can listen to full interview with Georgios Kargakis by clicking on the link below. We also discuss the role that Adobe is playing in their digital transformation efforts.

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