The FINANCIAL — The transformation of Allianz Italy in recent years is paying off. Few major insurance markets are more competitive than Italy. Nonetheless, Allianz Italy has been showing strong profitable growth lately and has become one of the country’s most dynamic insurers, according to Allianz, Europe's one of the largest insurer.
Despite these and many other challenges, Allianz Italy has emerged as a strong performer. “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,” said Dieter Wemmer, Allianz SE CFO.
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, according to Allianz.
“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 George Sartorel, Allianz Italy CEO . “When prices are falling, it is the quality of our products and our people that really makes the difference,” Sartorel added.
Another new product from Allianz Italy has proved highly popular with customers. “Progetto Reddito”, is a decumulation whole-life single premium unit-linked product sold through its financial advisor channel. It alone attracted revenues in the first quarter of 329 million euros, according to Alianz.
"The real mission of Allianz Italy is to provide for the changing needs of Italians as they seek to protect the people and things they care about. Winning awards of this nature is a positive confirmation that we are on the right path,” said Sartorel.
Discussion about this post