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Case
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Reference no. IMD-3-1967
Published by: International Institute for Management Development (IMD)
Originally published in: 2010
Version: 31.03.2010

Abstract

The case describes the transformation journey of a business unit in the middle of a major crisis - Allianz Auydhya CP, the subsidiary of Allianz, the largest insurance company in the world - into one of the most successful performers within the global group. In 2004, angry agents and employees resisting management efforts to restructure the perennial loss-making business, threatened to shut down the operations. Only three years later, under a new CEO and with a new management team willing to break many of the traditional rules of the game, the company became the first among Allianz subsidiaries in Asia in reaching its profitability targets. The case examines in detail the specific actions taken to change the culture of the organization, focusing on change initiatives which in the context of the local business culture seemed particularly controversial.
Location:
Industry:
Size:
1,000 employees
Other setting(s):
2004-2007

About

Abstract

The case describes the transformation journey of a business unit in the middle of a major crisis - Allianz Auydhya CP, the subsidiary of Allianz, the largest insurance company in the world - into one of the most successful performers within the global group. In 2004, angry agents and employees resisting management efforts to restructure the perennial loss-making business, threatened to shut down the operations. Only three years later, under a new CEO and with a new management team willing to break many of the traditional rules of the game, the company became the first among Allianz subsidiaries in Asia in reaching its profitability targets. The case examines in detail the specific actions taken to change the culture of the organization, focusing on change initiatives which in the context of the local business culture seemed particularly controversial.

Settings

Location:
Industry:
Size:
1,000 employees
Other setting(s):
2004-2007

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