Allianz Partners, the travel insurance division of Munich-based insurer Allianz, will eliminate up to 1,800 positions as it integrates artificial intelligence into its operations.
Tomas Kunzmann, CEO of Allianz Partners, confirmed the restructuring on Tuesday evening, validating earlier reports from Reuters regarding the scale of the workforce reduction.
The cuts represent a significant contraction in the division's headcount, driven by the growing deployment of AI tools to automate claims processing and customer service functions.
Kunzmann indicated that the technology shift is central to the unit's strategy to streamline costs and improve efficiency in a competitive market.
This development aligns with a broader trend across the financial services sector, where companies are increasingly leveraging generative AI to reduce operational overhead.
Earlier this week, Swiss online pharmacy DocMorris announced it was cutting 100 full-time roles as part of a similar strategic pivot toward AI-driven cost reduction.