17 February 2016 Insurance

Talanx invests to modernise its P/C business

Talanx, the European insurance group, has said it is investing in modernising its property/casualty business in Germany through digitalisation.

The modernisation is to be driven forward by a wide-ranging package of measures under the heading of "HDI 4.0". In addition to digitalisation and automation, this also encompasses new products and services.

This follows the already-announced restructuring of the company’s life insurance business. The company said "HDI 4.0" is a key element of the investment, growth and efficiency-boosting programme within Talanx’s German retail business. The aim is to secure and to expand the overall long-term position of HDI in the domestic market.

Talanx said in the wake of the restructuring, the property/casualty and life insurance in the strategically important retail Germany division should become more efficient due to annual savings from the year 2020 onwards of around €240 million. In addition, additional positive sales effects are also expected to be generated, it said.

"The measures will make our processes leaner, will improve our service for agents and clients, while at the same time helping to cut our costs significantly," said Herbert Haas, chairman of the Board of management of Talanx.

Dr Jan Wicke, member of the Board of Management of Talanx with responsibility for the retail Germany division, added: “Direct sales through online channels will continue to grow. At the same time, clients will continue to need a personal, highly qualified contact for products that require a relatively high degree of consulting.

“We will seamlessly integrate the online and offline worlds, thereby optimising the development of our products and services for the digital world. State-of-the-art processes and efficient IT platforms are a decisive success factor here."

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