Robotization will cut 1 200 jobs at Allianz by 2020

Allianz plans to cut 700 jobs by 2020. The German insurer has already dismissed 500 employees in the recent months. These mass layoffs are the direct consequence of the company's strategy to introduce artificial intelligence into its work chain.

Robotization will enable Allianz to reduce its administrative costs and ensure more accuracy and speed in the performance of certain tasks, such as contract management and claims settlement.

In order to maintain the critical size of its services, the German insurer intends to gather the classes of business by region. Accident insurance will be transferred from the offices of Leipzig, Hamburg and Stuttgart to Munich and Berlin sites. Life insurance will be concentrated in Berlin.

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