Allianz provides various types of insurance covers to about 3 9 billion people in India
In 2019, the global insurance market was valued at $5,939.5 billion and is expected to grow by ~15.7% and reach $6,840.7 billion in 20231. With an insurance gap of $27 bn, India was the second-most underinsured country globally2. Approximately 3/4 of the country's population (~988 million people) does not have any life insurance10. Even those with insurance are grossly underinsured10. For every insurance requirement worth $1.33, an average person in the country has insurance worth only $0.532.
Allianz’s involvement with L&T in India raises questions over the company’s deforestation policy
Every year, road construction and other development projects cut down around 7 billion trees15. Between 2015 and 2018, India lost 20,314 hectares of forest land17. Out of which, over 11,467 hectares were diverted in 2019 alone for road construction and other development14. Deforestation causes global warming4 and costs wildlife habitat16.
Allianz Engagement Survey showed an employee engagement rate of 72% in 2019, as against 70% in 2018
The global employee engagement rate in 2019 was 66%4;p3. 94% of employees in 2019, experienced high levels of occupational stress and 54% reported a loss of sleep due to work pressure5. 87% of employees expect their companies to support work-life balance6.
Allianz fosters employee development by investing 85 million euros in training its workforce in 2019
58% of employees feel that their employers did not provide them sufficient opportunities to upgrade their skill sets at work5. 70% of employees showed interest in participating in company-provided training programs4.
Allianz surpassed its target of 25% women on Boards of Management and 40% women in talent pools by 2021 in 2019
Although the global finance workforce comprises of 46% of women, only 15% of women are present at executive levels 2. Also, female representation at ExCo level in finance remains dominated by HR, Marketing and compliance roles 1;p5. In 2016, while 50% of women HR heads in finance globally, female CEOs were just 8% 1;p5 In Germany, just 10% of women represented ExCo positions in the financial sector in 2016 1;p5.