ALLIANZ INDONESIA: LEADERSHIP TRANSFORMATION

When Jens Reisch was appointed as CEO of Allianz Life Indonesia in 2003, the company’s financial figures were far from outstanding. In the earlier years, Allianz focused on business expansion and opened branches throughout Indonesia. During that period, Allianz also attempted to build strong brand but this was a financial burden; the company reported a loss of Rp 102.86 billion in 2002. The condition was exacerbated by the financial chaos in the early 2000’s. To improve the situation, the new appointee and his team had to work extra miles for the company to earn profits.

Considering the company’s difficulties, Jens had to engage in a major transformation, first  by changing the marketing process from the branch system to the agency system, to the extent that he had to shut down most of Allianz branches in Indonesia and lay off hundreds of employees. That was the toughest decision he and the management team faced during that period. In addition, Jens had to improve employee productivity during the crisis period through the enhancements in motivation, morale, commitment, and trust.