Allianz Africa launches its core IT system transformation in Ghana

• As part of its strategy, Allianz Africa is undergoing a deep operational transformation
• First milestone is the set-up and rollout of a harmonized IT system across Africa
• Allianz Ghana was selected and is in the process of  the implementing the new system called Allianz Business System (ABS)

Allianz Africa launched the transformation of its core IT Platform with the introduction of the Allianz Business System (ABS). The system was adapted for the African market and is now operational in Ghana for motor insurance products.

ABS was developed by the Allianz Group with customer centricity at its core. It connects Allianz with its customers and partners and all parties with a 360-degree view of all transactions. This is made possible through a single platform. Its layered and flexible design makes it easy to adapt for market-specific requirements and processes. The main benefit for clients is the quick turnaround time in handling both claims and underwriting transactions.

This project is at the heart of Allianz Africa’s core operational strategy. One of the first milestones was the launch of a new operational hub in Abidjan to steer the business transformation. The launch of ABS in Ghana will be followed by a phased-out implementation across Africa.

“ABS will transform how Allianz does business in Africa by enabling us to be more productive and to give our African customers a superior experience. It has also been adapted to support mobile money transactions which is a unique way of buying insurance in Africa,” said Delphine Traoré Maïdou, Chief Operating Officer and Regional Executive Board member of Allianz Africa. 

According to Darlington Munhuwani, Chief Executive Officer of Allianz Insurance Ghana: “The decision to pilot and implement ABS in Ghana speaks volumes about the Allianz Group’s confidence in Ghana’s economy and the need for differentiation in the local insurance market. The use of technology to interact with both our customers and partners enhances efficiency and the speed of doing business.”

The first phase of the ABS rollout for Allianz Ghana is in respect of motor insurance and will be extended to other classes of insurance products and countries throughout 2019 and 2020.

About Allianz

The Allianz Group is one of the world’s leading insurers and asset managers with more than 92 million retail and corporate customers. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 673 billion euros on behalf of its insurance customers. Furthermore our asset managers PIMCO and Allianz Global Investors manage more than 1.4 trillion euros of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we hold the leading position for insurers in the Dow Jones Sustainability Index. In 2018, over 142,000 employees in more than 70 countries achieved total revenues of 131 billion euros and an operating profit of 11.5 billion euros for the group.

These assessments are, as always, subject to the disclaimer provided below.

About Allianz AfricaIn Africa, Allianz is currently present in 17 countries and accompanies clients in 39 countries. Its 1,500 employees achieved regional revenues of 588 million euros in 2018. Allianz also provides micro-insurance for 500,000 low-income families and individuals in Africa.About Allianz Ghana

Allianz’s operations in Ghana started in the non-life segment in 2009.  Allianz Insurance Ghana provides a wide range of products and services such as Motor, Home, Travel, Injury and Disability Insurance. It also underwrites Public Liability Insurance, Asset, Construction as well as Transport Insurance.

In December 2017, Allianz started its life insurance operations in Ghana with an official launch on May 24, 2018.

Allianz Ghana has rapidly grown its customer base as it strives to bring the best-in-class services and expertise of the Allianz Group to the Ghanaian market.

Disclaimer

Cautionary note regarding forward-looking statements

This document includes forward-looking statements, such as prospects or expectations, that are based on management’s current views and assumptions and subject to known and unknown risks and uncertainties. Actual results, performance figures, or events may differ significantly from those expressed or implied in such forward-looking statements. Deviations may arise due to changes in factors including, but not limited to, the following: (i) the general economic and competitive situation in the Allianz Group’s core business and core markets, (ii) the performance of financial markets (in particular market volatility, liquidity, and credit events), (iii) the frequency and severity of insured loss events, including those resulting from natural catastrophes, and the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) particularly in the banking business, the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates, most notably the EUR/USD exchange rate, (ix) changes in laws and regulations, including tax regulations, (x) the impact of acquisitions including and related integration issues and reorganization measures, and (xi) the general competitive conditions that, in each individual case, apply at a local, regional, national, and/or global level. Many of these changes can be exacerbated by terrorist activities.

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