"Constructively and with a great sense of responsibility we intend to develop a fair and socially responsible solution for the employees. We agree on the common goal to make sales in Germany more efficient, so that we can become more sustainably competitive and strengthen our business in the long term", says Dr Jan Wicke, Chief Executive Officer of Talanx Deutschland AG and responsible for the Retail Germany Division within Talanx AG.
In total, the aim is to cut 330 full-time equivalents (FTEs) at HDI Vertriebs AG by 2020. The Retail Germany Division employs approx. 5,000 people, of whom around 1,000 work in HDI Vertriebs AG. Talanx already held talks with the works council last November in order to cut 600 FTEs, predominantly in HDI Kundenservice AG likewise by 2020. The reduction of staff, along with organisational and IT-specific measures, aims to bring about a EUR 240 million reduction in the cost basis of Retail Germany by 2020. In the same period, the Group will invest around EUR 300 million in modernising the division.
"We will, however, also be improving our service for our sales partners, so that customers can receive more attractive offers and services from us. As part of this, we will shortly see the agent home pages, which will be rolled out further, as well as greater digital, and thus more direct, communication with our intermediaries/brokers", says Wolfgang Hanssmann, sales director in the Retail Germany Division. "In the area of occupational pension insurance, we aim to strengthen bAVnet, in order to streamline even further the administration of contracts between HDI, sales partners and employers."
The planned measures are part of a comprehensive investment, growth and costs program in the German private and corporate customer business. The focus of all these measures is to significantly improve efficiency through consistent automation and digitisation of the business processes. In addition, the traditional life insurance policies were largely replaced at the start of January 2016 with the modern classic policies. Furthermore, the sales of biometric products such as occupational and disability insurance will be stepped up, as will the focussed targeting of customer groups such as corporate customers and freelance professionals.
This news release contains forward-looking statements which are based on certain assumptions, expectations and opinions of the Talanx AG management. These statements are, therefore, subject to certain known or unknown risks and uncertainties. A variety of factors, many of which are beyond Talanx AG’s control, affect Talanx AG’s business activities, business strategy, results, performance and achievements. Should one or more of these factors or risks or uncertainties materialise, actual results, performance or achievements of Talanx AG may vary materially from those expressed or implied in the relevant forward-looking statement. Talanx AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors nor does Talanx AG accept any responsibility for the actual occurrence of the forecasted developments. Talanx AG neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.