Allianz(US:ALIZY) Xin Lang Cai Jing·2025-12-10 11:45Core Viewpoint - The insurance industry is experiencing significant layoffs due to the rapid adoption of artificial intelligence (AI), with Allianz planning to cut 1,500 to 1,800 jobs in its travel insurance division over the next 12 to 18 months, primarily affecting call center positions [1][14][16]. Group 1: Allianz's Layoff Plans - Allianz is restructuring its global business processes and plans to reduce its workforce in the travel insurance sector by 1,500 to 1,800 employees [1][16]. - The layoffs are largely attributed to AI's ability to replace traditional human roles, particularly in call centers, where approximately 14,000 out of 22,600 employees handle customer inquiries and claims [3][18]. - The company has already begun implementing AI solutions, such as the AI virtual assistant Allie, which can resolve 80% of common customer service issues within 1-2 minutes, significantly enhancing operational efficiency [4][18]. Group 2: Impact of AI on Insurance Jobs - The World Economic Forum predicts that AI could replace 92 million jobs globally by 2030, with the insurance and financial services sectors being particularly vulnerable [6][21]. - A study from the University of Pennsylvania identified the top ten insurance jobs most likely to be replaced by AI, including data entry clerks, claims processors, and customer service representatives [7][22]. - The nature of many insurance roles, such as claims analysis and risk modeling, involves repetitive tasks that AI can efficiently automate, leading to potential job losses in these areas [8][23]. Group 3: Future of Employment in Insurance - Despite fears of job losses, some industry experts argue that AI will not eliminate jobs but rather change the nature of work in the insurance sector, creating new opportunities [10][25]. - The demand for technology talent in insurance is increasing, with companies like China Life and Ping An actively recruiting for AI-related positions, indicating a shift towards more tech-focused roles [11][25]. - The concept of human-AI collaboration is emerging as a key trend, where insurance professionals will need to adapt and enhance their skills to work alongside AI tools effectively [12][26].