Allianz to cut up to 1,800 jobs due to AI advances, says source

Core Insights - Allianz, a German insurance group, plans to cut up to 1,800 jobs in its travel insurance division, primarily affecting call centers due to the increasing adoption of artificial intelligence [1] Company Summary - The job cuts are a response to the growing trend of artificial intelligence replacing manual processes within the insurance sector [1] - The affected positions are mainly located in call centers, indicating a shift towards automation in customer service roles [1] Industry Summary - The move reflects a broader industry trend where companies are leveraging technology to enhance efficiency and reduce operational costs [1] - The integration of AI in the insurance industry is expected to continue, potentially leading to further job reductions in traditional roles [1]