Ron Buchan: "Most insurers were not able to handle this kind of business. We were."

Mr. Buchan, as the first Chief Executive of Allianz Worldwide Care, you've been there since its birth. How does that feel?

Ron Buchan: My job is the stewardship of the company, but because I have been involved from the outset, it's much more personal than if I had come on board after it was already up and running. When I joined Allianz Worldwide Care it was a blank sheet of paper, and today, we'reone of the top three international private medical insurers in the world, with hundreds of thousands of members. It feels good to have been here from the start and to know that what we do makes a real difference to our clients.    

 

Those start-up days must have been thrilling. What was your biggest challenge back then?

People often think that our business model is simple: You get sick and you get paid. And to an extent, those people would be correct. However, it’s the diversity of our clients that creates the greatest challenge. The companies we work with have very specific ideas of what their employees want. The insurance needs for two employees working for the same company but in different countries will beworlds apart. In the end, what we offer has to fit all their different requirements.

 

Well, if so, this is your chance to tell people what the idea of Allianz Worldwide Care's business really is…

Simply put, it is not insurance in the usual sense.

 

But rather?

Our business is people-focused and service-driven. Everything has to be done quickly and accurately. Companies entrust us with their employees and our job is to look after them, wherever they are in the world. More and more people are moving to other countries, and they still want to be sure that they and their families will have access to the best hospitals and medical care. When we first started out there was a gap in the market for a strong player and Allianz Worldwide Care was simply the right company to fill it.

 

So globalization was the birth of Allianz Worldwide Care?

No, we don’t see that. People have been relocating for jobs on international assignments for decades, as long as there have been multinational companies. But most insurers were not able to handle this kind of business.

 

Since you run a global business, isn't the current global economic environment tough for Allianz Worldwide Care?

Quite the opposite! We've seen very strong growth rates of 25 percent per annum over the last several years. In fact, the biggest jump in growth has come over the last three years. The, diminished faith in the euro has meant that more and more companies want to operate outside of the European Union. So the number of people we insure in growth regions has increased significantly, which means we have needed to respond to new requirements. We have to be able to offer services to clients inAsia, Latin America and North Africa.

 

So what else is driving growth for Allianz Worldwide Care?

It’s all about service. We really believe that. We offer service levels no other international competitor offers, such as our “clear to zero” claims handling process whereby 95% of fully completed claim forms are processed within 48 hours.

Another part of our service is our own diversity. Allianz Worldwide Care has over 650 people from 44 different countries who collectively speak 26 languages. So when we say to clients that we speak their language, we mean it.

Even management is committed to service: My board colleagues and I receive figures every morning by e-mail telling us which specific claims were paid out the day before.

 

You seriously check every day if you have fulfilled your service promise?

Absolutely. I get various key statistics e-mailed to me every morning telling me what happened the day before. We analyze this data closely to monitor and optimize our service. That's what has really made us different: Our service levels are considered to be the best in the market.

Ron Buchan, CEO Allianz Worldwide Care
Ron Buchan: "We are not an insurance in the usual sense"

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Michael Matern
Allianz SE
Phone +49.89.3800-2960
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