Things have not always been easy for the Allianz insurance subsidiary in Italy. Starting in 2007, Allianz began to integrate different parts of its business in the country that had previously been operating independently under various brands. The financial crisis and the euro debt crisis which peaked in 2011 then made the market very difficult, especially for life insurance.
Despite these and many other challenges, Allianz Italy has emerged as a strong performer. In a video interview on the 2013 first-quarter results, Dieter Wemmer, Allianz SE CFO commented: “Thanks to innovative products and good service, our colleagues were able to grow the business in Italy over ten percent, in both Property and Casualty insurance and in Life insurance.”
Innovation and service
Allianz Italy owes some of its success to its integration. Customers now know the single Allianz brand and what it stands for: stability, service and quality products. This has been essential in an extremely competitive market in which prices are constantly falling.
“We are the loyalty leader in the market. Customers especially like our service, which is now at the same level of quality in all areas,” said Allianz Italy CEO George Sartorel. “When prices are falling, it is the quality of our products and our people that really makes the difference.”
A big part its success, however, is the name Allianz has also made for itself in Italy as an innovator. The financial newspaper “Milano Finanza” confirmed this in April when it gave Allianz Italy 15 insurance awards, including the personal recognition “Elite” for Sartorel.
"Under the leadership of Sartorel, Allianz Italy entered profound changes based on digitalization, products innovation, modular offer, multi-access and cross-channel strategy," announced “Milano Finanza”.
