Global insurance brand Allianz continues to be the world’s number 1 insurer according to Interbrand’s Best Global Brands ranking, its fourth year on top of what is widely regarded as one of the most relevant documents in all of brand management.
“Allianz’s brand growth means that our customer and investor base recognize that we are an increasingly important and relevant part of their lives, and that is why they choose us as their partner in securing their futures,” said Allianz PNB Life Chief Marketing Officer, Gino Riola. “Our brand value has risen equally across Interbrand’s three measures of financials, brand importance, and performance, which we’re very proud about.”
Allianz has registered a double-digit growth of 23% coming from last year, translating to a record-high brand value of 18.7 billion US dollars. This makes Allianz one of the top 15 global brands that grew the most in 2022, and places it above other competitors in the field in terms of growth.
“We are very proud of the consistency shown by Allianz in maintaining the top spot among other players in our industry,” Riola stated. “This growth is because 155,000 Allianzers and 120,000 agents have so much dedication and drive to pursue our purpose of securing the future of our customers.”
Interbrand has been a pioneer in brand valuation since 1988. Drawing from its expertise in understanding the influence of a strong brand on key stakeholders, Interbrand created the first brand valuation methodology that was certified as ISO 10668-compliant. This played a key role in the development of what is now considered a global standard.
To expound on Interbrand’s three-pronged criteria in determining brand value, it measures financials by analyzing the overall financial return to an organization’s investors, or its economic profit. For brand importance, this simply means how big of a role the brand plays in driving purchase decisions of its products or services.
Finally, performance looks into the brand’s competitive strength. Some of the identifiable factors that contribute to a brand’s strength this year are its ability to work towards its specific goals, bring relevant products and services to its target markets, and engage customers to build brand loyalty.
For Allianz, its impressive increase in brand value reflects a strong performance in all three growth drivers. In terms of brand strength, Allianz remains strong in direction, alignment, agility, coherence, presence and affinity while showing an improved brand strength on empathy and participation. This is reaffirmed by Allianz’s purpose of securing the futures of its stakeholders by investing in sustainability, giving voice to its customers, and expanding the brand in order to reach more people.
Allianz has been a long-time advocate for sustainability, with the goal of securing the futures of its customers through its insurance solutions as well as through the active promotion of making more sustainable choices. In fact, it has been included in the Dow Jones Sustainability Index with top ranking positions since 2000 and achieved 100th percentile within the insurance industry in 2021.
In the Philippines, Allianz PNB Life’s most notable sustainable transport campaign, Ride Safe, has grown significantly since it began in 2020. The company has partnered with many organizations and local government units to develop projects such as a solar-powered pitstop, art installation bike racks, a rest stop for cyclists called The BikeYard, and a mural highlighting the importance of caring for the environment. Allianz PNB Life also has plans of expanding the campaign to include bike mechanic training.
Allianz PNB Life also pushes for sustainability through financial education, wellness and inclusion with Allianz Kaagapay, the company’s financial literacy program. The program targets underserved sectors in the country and helps them develop financial skills such as money management, income generation, and more. Allianz PNB Life also provides participants with free life insurance of up to Php 25,000. The coverage is valid for one year after the session, giving participants a free trial of the benefits of being financially protected.
Aside from being a champion of sustainability, Allianz PNB Life is also recognized as the strongest bancassurance player in the Philippine insurance industry. Through its partnership with one of the largest banks in the country, the Philippine National Bank, Allianz capitalized on the latter’s established distribution network to grow its business platform. Additionally, the company is also continuing to expand its Agency Life Changer network; it launched the Allianz Exceed Supernova Financials branch in August, the very first Premier Agency of its kind in the Asia Pacific region.
These, along with many other campaigns and initiatives done by Allianz PNB Life, has enabled it to make significant strides in raising awareness for both the brand and the importance of insurance in the Philippines. This is reflected in the Insurance Commission of the Philippines’ performance report for the 2nd quarter of 2022, where Allianz PNB Life ranked third in both Gross Written Premium and New Business Annualized Premium Equivalent.
“Continuing our streak as Interbrand’s number one insurer is the result of the effort, passion, and dedication of Allianzers all around the world, including our Life Changers here in the Philippines,” said Allianz PNB Life President and CEO Alexander Grenz. “We’re also very grateful to the customers who believe in us and trust us to be their insurance partner. Know that we take your trust very seriously, and we will work harder than ever to help you achieve your goals when it comes to life, health, and financial security.”
Since 2019, Allianz has been recognized as the number one insurance brand in the world. As a leading insurance provider, Allianz PNB Life’s products and services are designed to meet the lifetime financial planning, wealth accumulation, and well-being aspirations of Filipinos. For more information, please visit www.allianzpnblife.ph.
