Tailor-made solutions for corporate pensions

In January, Allianz announced the creation of Allianz Global Benefits. The new unit will coordinate employee benefit plans for international companies across countries. CEO Dirk Hellmuth discusses the reasons behind the launch and what customers can expect.
 

Why did Allianz establish Allianz Global Benefits?
 

We want to coordinate the provision of existing and new solutions in the employee benefit area to multinational corporations at a global level. Allianz Global Benefits will complete the large product range offered to multinational companies. Thus, it will cooperate with Allianz Global Corporate & Specialty, which provides them property and casualty insurance, and Allianz Global Investors which manages many pension funds. Furthermore, it will expand the existing cooperation in the area of worldwide employee benefits with global broker firms. The more the market becomes international and customers demand multi-national solutions, the more it makes sense to offer this service through a global business line.
 

What can customers expect?
 

Customers can expect the full range of corporate life, pension, health and asset management solutions available within Allianz Group with one face to the customer. They will benefit from tailor-made solutions reflecting their individual situations, optimized employee benefit schemes across countries and a clear overview of their worldwide employee benefits. We will also be able to support them with a more advanced, international risk management perspective and governance. Employees, especially expatriates, will also value the benefits of employee benefit solutions even more which leads to a higher identification with the employer and is a clear advantage in the war for talent. 

 

What will the structure of the new unit look like?
 

To be clear, the business itself will remain with the local Allianz subsidiaries. We will be collaborating with them. Currently, Allianz Global Benefits has a few dozen employees. At each local subsidiary in turn we have local employee benefits experts who will work hand in hand with our global unit. But again, the point is not so much how our structure looks on the inside but rather on the outside: Our large corporate customers and brokers will see a more unified structure which can provide complete global solutions for their employee pensions and other benefits.

Dirk Hellmuth: "Customers can expect the full range of corporate life, pension, health and asset management solutions available within Allianz Group with one face to the customer."
Dirk Hellmuth: "Customers can expect the full range of corporate life, pension, health and asset management solutions available within Allianz Group with one face to the customer."

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Petra Brandes
Allianz SE
Phone +49.89.3800-18797
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