In this episode, Michael Waitze talks to Lars Heibutzki, the CEO of Allianz Ayudhya General Insurance, Thailand. Lars shares insights about how Allianz is empowering its people with technology. The Company has built its own tech capabilities with Allianz Technology mainly around core systems but is also working with external providers to get access to the latest tech tools.
Michael and Lars talk about the new normal and how COVID-19 will change the insurance industry long term. We will likely see an uptake in digital-enabled business models and a restructuring of players as well as InsurTechs.
While the global pandemic is causing major challenges, it also removes roadblocks the insurance industry was facing. Agents, for example, are forced to adopt digital tools in order to remain competitive and execute sales in times of social distancing. Allianz recorded an increase in D2C sales and a higher adoption rate of their digital sales tools by their agents and brokers.
Other companies mentioned in the episode: