Case Study of Principles and Practices of Management

Topics: Insurance, Investment, Life insurance Pages: 6 (1579 words) Published: December 18, 2011
1.0 About Allianz Malaysia Bhd.

The Allianz Group is a group with a long history and a strong tradition. Founded in 1890 in Germany, the Group provides a comprehensive range of services to approximately 75 million customers worldwide through an international network of subsidiaries. The Group operates in about 70 countries and is supported by a team of nearly 153,000 employees worldwide Allianz officially ventured into Malaysia in 2001 when it became the controlling shareholder of Allianz General Insurance Malaysia Berhad (“AGIM”) in 2001. In 2007, the general insurance business of AGIM was transferred to its wholly-owned subsidiary, AGIC. Following the completion of the transfer of general insurance business, AGIM changed its name to AMB and became an investment holding company. AMB is an investment holding company and is the holding company for both life and general insurance entities in Malaysia mainly Allianz Life Insurance Malaysia Berhad (“ALIM”) for life insurance arm, Allianz General Insurance Company (Malaysia) Berhad (“AGIC”) and Bright Mission Berhad (formerly known as Commerce Assurance Berhad) (“BMB”) both for general insurance arm. AGIC is one of the top two general insurance players in the country, offering a broad spectrum of services in personal lines, small to medium enterprise business and large industrial risks. It is supported by a strong network of branches and agents located throughout Malaysia. AGIC offers a comprehensive and innovative range of general insurance products for both corporate and individuals. ALIM, on the other hand, has consistently outgrown the market and is now one of the country’s fastest growing life insurance companies. In 2008, ALIM had total gross written premiums (GWP) of RM692 million and total assets of RM1.97 billion. ALIM offers a comprehensive range of life insurance products tailored to suit corporate and individual needs. On 28 August 2007, AMB completed the acquisition of a 100 percent equity interest in BMB. This landmark event was the second major direct foreign investment that Allianz has made in Malaysia, which underlines the commitment of Allianz to Malaysia and the Asia Pacific Region. Allianz Malaysia aims to distinguish itself as the most trusted provider of financial services to suit the lifetime needs of Malaysians. We are a team of skilled and committed people, leveraging on Allianz global expertise and aims to provide innovative exceptional solutions and services to our customers wherever they are with a sustainable ethical business model for all stakeholders.

2.0 Company Profiles

* Vision
To be the most reliable partner, always delivering in moments of truth * Mission
Insurance solutions from A-Z
* Customer Focus
Allianz will create superior customer experience through innovative solutions that continuously exceed customers’ expectations * Integrity
Allianz delivers promises whilst maintaining highest ethical standards, integrity and honesty in all aspects of our business * High Performance Culture
Allianz encourages, recognizes and rewards exceptional performance * Open Communication
Allianz practises and promotes clear, open and transparent communication * Social Responsibility
Allianz cares and is committed to building the community through socially responsible initiatives

3.0 Allianz’s Products
Allianz Malaysia Bhd main product is Life Insurance and Investment Solution. Combining local understanding with global outlook, they create integrated and innovative insurance solutions to fit their customers’ needs. Regardless of whether customer’s need general or life insurance solutions, they will definitely have one that will suit the customer’s need.

4.0 The models related to the organization.
4.1 SWOT
* Globally well known organization.
* The stability of the organization which we can see from their worldwide branches. * The quality of a good work done by the organization to satisfy their...
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