Filed Under:Life Insurance, Life Practice Management

Allianz Life: A tale of transformation

The principles and practices of organizational transformation directly apply to individuals in the life insurance industry.
The principles and practices of organizational transformation directly apply to individuals in the life insurance industry.

The principles and practices of organizational transformation have direct application for individuals in the insurance and financial services industry.

In 2005 the new CEO of Allianz Life, Mark Zesbaugh faced the sort of challenge every CEO loves.  The company was growing at 20 percent year over year.  To most traditionalists this would be good news and clearly not any sort of call to action.  Mark was no traditionalist and knew that while from a financial perspective this was indeed good news, from a larger organizational perspective it posed a challenge as the existing systems, processes, and practices for leading and managing the company were not sufficient to enable this growth rate much longer. Thus was born Pursuing our Potential, a large-scale transformational project for the entire company.

We have built a new body or work called Commitment-Based Management, which is designed especially for today’s workplace.  The simple reality is that literally every manager in the country has been schooled in the practices of the industrial era.  It is what is still taught in business school and it is what the person who had the job before you knew and passed on.  While common, the practices of the industrial era are increasingly ineffective in today’s world. 

We deployed various levels of these new practices to the entire 2,300-person organization via a series of conferences, assignments, on-site coaching and implementation projects.  This is the only way to build new competence.  No amount of reading or understanding will do it.

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Nichole Morford

Nichole Morford
Managing Editor

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