Insurance giant Allianz Partners to cut up to 1,800 jobs as it turns to AI
Insurance group Allianz Partners said it will cut between 1,500 and 1,800 roles from a workforce of close to 23,000. The company plans to hand part of its operations to artificial intelligence. The decision revives debate over automation's effect on jobs in the insurance sector.
Insurance group Allianz Partners said it will shrink its workforce as it expands its use of artificial intelligence. According to MarketWatch, the company plans to cut between 1,500 and 1,800 roles from a workforce of close to 23,000.
The firm aims to automate some processes, such as claims handling and customer service. Management argues the technology will improve efficiency, while the decision brings renewed debate over automation's impact on employment in the sector.
Insurance is seen as one of the areas where AI tools have been adopted early, because it involves large volumes of repetitive administrative tasks. Unions and employee representatives have warned that such transitions can lead to job losses.
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