Generali Deutschland Plans Staff Reductions and IT Modernization
The insurance company aims to eliminate 800 positions over the next four years through technological advancements while promising no forced layoffs.
Generali Deutschland management announced a comprehensive restructuring plan spanning the next four years, aimed at modernizing the insurance company through increased reliance on technological progress and fewer personnel. According to Human Resources Board Member Arne Benzin, the company currently employs approximately 9,100 people at its headquarters in Munich, but plans to reduce that headcount by 800 positions by the beginning of the next decade.
Despite the planned reduction in personnel, the company has guaranteed job security and specific location retention through the end of 2030. Benzin emphasized that the reduction will be achieved through phased early retirement, previously scheduled retirements, and natural staff turnover, meaning that no layoffs are apparently intended.
As part of the structural reorganization, Generali will close its offices in Aachen, Nuremberg, and Stuttgart. Employees from those locations will be consolidated into hubs located in Cologne, Munich, and Karlsruhe, alongside new regional centers established in Hamburg and Saarbrücken. The company stated that negotiations regarding the implementation of these changes are currently underway with the works council.
To drive the transition, Generali Deutschland is investing a high three-digit million amount into IT modernization, digitalization, and artificial intelligence. The corporation anticipates that these digital enhancements will significantly boost productivity, ultimately rendering the 800 targeted positions unnecessary as operations shift toward insurance-related tasks.
Furthermore, the company intends to outsource secondary tasks to external partners to further minimize complexity and strengthen responsibilities in customer-facing, sales, and market-oriented sectors. Chief Executive Officer Stefan Lehmann noted that the insurance sector is undergoing a rapid and profound transformation unlike anything seen before.
In a separate development affecting policyholders, the German insurance and financial landscape is approaching key seasonal deadlines. According to the ADAC, November 30 marks the final deadline for many drivers to submit a regular cancellation notice for their auto insurance policies if their contract year ends on December 31, allowing them to switch providers ahead of the new year unless a special termination right applies due to a rate increase.
Additional changes impacting consumers in Germany include upcoming regulations regarding retail financing and consumer credits taking effect late in November. These new legal requirements for buy-now-pay-later schemes and small loans under 200 euros aim to enhance consumer protection by enforcing stricter creditworthiness checks before purchases are finalized.