"Allianz wants to become a trusted innovator"

Any company that wants to survive in a competitive market has to be innovative, and it would be unusual to find a company that doesn’t have an employee idea scheme. So what is it that makes Allianz's innovation initiative different?"

Firstly, innovation at Allianz is about more than simply inviting employees to submit their ideas," explains Veit Stutz, Group Innovation Manager at Allianz. "It is focused on creating a culture of innovation across the company, that will make 'being innovative' a natural part of every employee’s daily work."

"And it really is every employee," he emphasizes. The innovation initiative is open to every member of the organization, regardless of level, location or business unit. "All of our employees are being asked to be innovative and can submit ideas that will be seriously considered. Our promise is to review each idea within 15 working days."

In addition, Allianz's "ideas to success" is a decentralized project, with a team of innovation experts at head office in Munich creating the overall framework, for a community of 72 Local Innovation Managers (LIMs) in 37 countries. The LIMs decide how to best implement ideas in their local markets.

Innovation at Allianz is also firmly embedded in the company's strategy: it is a key element in feeding the strategic pipeline for the long term and supporting the initiatives that are driving Allianz in achieving sustainable profitable growth, for example the Customer Focus Initiative or the Sustainability Program for Allianz's property & casualty and life businesses.

Werner Zedelius, who sponsors the initiative at board level, underlines the financial impact of engaging the employees. "We are already starting to see financial benefits from 'ideas to success'," he says. "And if we can bring innovation into all business areas and implant it firmly into the DNA of the company, we believe innovation has the potential to provide an even greater total benefit over the next five years."

At the end of 2006, the first ever Allianz Global Idea Campaign was run in conjunction with the Customer Focus Initiative. For one month, every employee focused on one question: "How can we improve the way we differentiate ourselves to our customers?" The campaign resulted in over 7,000 ideas being submitted, all of which offered new ways in which Allianz can offer superior service to its customers.

One idea from that campaign is a pre-disaster pack, which offers homeowner's insurance customers basic instructions on how to prepare for a crisis such as a hurricane, flood or earthquake. "This is not just innovative and proactive but also helps to alleviate our customers' fears and concerns," explains Veit Stutz.