Sustainability Report 2021 02.1 Sustainability in insurance 01 Introduction 02.1.4 Emerging consumers Increasing the resilience of the most vulnerable channels are strategies to reach and service this Examples of our core emerging consumer against the risks they face is one way in which target segment. Products and processes must solutions include Credit Life Insurance, 02 Measuring and Our purpose – ‘We secure your future’ – we create positive social impact through our be simple and relatable and distribution models Funeral Insurance, Health insurance and managing sustainability includes providing emerging consumers core business. need to be cost-efficient to maximize client value. Crop insurance. Sustainability in our business activities with affordable and effective insurance Reaching underinsured customers Digitalization is unleashing opportunities, In 2021, we insured 62.2 million people2 in 02.1 Sustainability in insurance solutions. Allianz is committed to closing The emerging consumers market, defined as with affordable insurance and health services the emerging consumers segment (2020: 46.1 mn 02.2 Sustainability in the protection gap and providing access lower-income populations in Africa, Asia and increasingly delivered via mobile technology. insured). Revenues were at € 510.2 million proprietary investments This trend accelerated during the COVID-19 (2020: € 452.2 mn) – equivalent to around € 8.2 02.3 Sustainability in asset management to affordable insurance solutions to Latin America, consists of more than half of the 2 for this market. world’s population. Emerging consumers are pandemic. To leverage these opportunities, we are in annual revenue per insured Sustainability in our organization support lower income populations. expanding our partnerships with companies that Allianz consolidated entities served 9.7 million 02.4 Human resources usually first-time buyers of formal insurance provide digital technologies and go-to-market insured (2020: 10 mn) and contributed revenues 02.5 Customer satisfaction 1 products and often do not have a bank account. approaches to complement our core capabilities, of € 45.2 million. Additional data about our People insured in mn Developing non-traditional offerings, innovative 02.6 Environmental management distribution models and accessible payment tailored to the requirements of the emerging emerging consumer business can be found in consumers segment. Table ESG-6. 03 Strengthening 2 62.2 our foundation 0.01 55.4 Building confidence in tomorrow… 1.2 04 Climate-related 0.3 financial disclosure 46.1 1.7 …by building the next generation of healthcare and insurance solutions 0.3 In summer 2019, we teamed up with emerging ensure continuous customer engagement after customers indicating they can better manage 05 Our universal principles 1.5 market digital healthcare and insurance leader a human-touch sale. Core elements developed their health thanks to the offering. 61.0 BIMA and German development agency GIZ to within the project include 1) a customer-centric app This is evidence that it is possible to sustainably grow affordable digital healthcare subscription for sales agents, 2) customer experience centers, run direct-to-consumer healthcare subscription plans in a sustainable way. Our shared aim 3) digital onboarding journeys, 4) digital health and microinsurance models, which is a huge step 43.6 53.4 was to reach one hundred thousand additional programs providing advice on health needs. towards effectively addressing the protection customers in Ghana with new offerings supported Despite the COVID-19 pandemic, the number of needs of many undeserved population groups in by a new type of hybrid retail delivery model. insured grew from 80k in 2019 to 184k in 2021, emerging markets. A key endeavor was to smartly combine face-to- with 87 percent of active customers subscribing Watch the video here and read more in the face interaction with digital elements to to receive health programs and 40+ percent of GIZ report here. 2021 2020 2019 New customer journey developed within the public-private partnership Asia Africa Latin America Experience centers Agent app Digital onboarding Teledoctor Hospitalization Quick Personalized Healthy and 1 The number of insured people and revenue data includes figures from non- and health programs services support claims payout digital communication insured people consolidated entities outside the reporting boundaries (GRI 102-45). 2 Due to change in scope, additional 15.5mn insured reported from Indian government-sponsored health schemes. 21