Allianz continues to be the world’s most valuable insurance brand, while the Philippine unit ranks among the country’s top 5 life insurance companies, according to a report.
The 2021 Best Global Brands ranking, released by leading consultancy Interbrand, showed that within the top 100 global brands, Allianz has climbed five ranks since 2020 to 34.
Allianz’s brand value has risen by 2.2 billion USD in one year to $15.2 billion, an increase of 17 percent. This increase is the strongest since Allianz entered the 100 Best Global Brands ranking in 2007 with a brand value of $4.0 billion.
According to Interbrand, Allianz’s rise in the ranking is based on its strong operating performance and outlook, increased branded revenue, and brand strength. Moreover, the influence of the Allianz brand on customers’ purchase decisions has increased over the last year.
“The Allianz brand demonstrates strong resilience and delivery of value for people, companies and the broader market. We have been working hard to apply our guiding principles ‘Shape, Care, Deliver’ to the brand and customer experience,” said Serge Raffard, group strategy, marketing, distribution officer at Allianz SE said in a statement.
To further build on its brand strength, Allianz has enhanced its global coherence, affinity, and distinctiveness. The “OneAllianz” approach was applied to unify Allianz’s brand presence into one logo, one message and one campaign. Moreover, Allianz has improved customer experiences globally by listening closely to its customers via numerous programs and addressing their unmet needs.
In the Philippines, Allianz PNB Life ranks among the country’s top 5 life insurance companies and remains the fastest-growing life insurance company in the Philippines, according to a report by the Insurance Commission. This year, the company clinched the top 3 and 4 spots in Gross Written Premiums and New Business Annual Premium Equivalent, respectively.
Allianz’s eight-year worldwide partnership with the Olympic and Paralympic Movements has also been instrumental in underlining Allianz’s role as a global insurer supporting the sports ecosystem. Since the launch of the partnership in January 2021, the likeability of the Allianz brand has increased significantly among people aware of the tie-up.
“We couldn’t have accomplished this monumental achievement without the support and continuous trust of our partners and customers. We will continue to take protection, innovation, and sustainability to brand new heights in the coming years, and affirm our brand promise for a more confident tomorrow for all,” said Alexander Grenz, president and CEO of Allianz PNB Life.
Interbrand pioneered the brand valuation concept in 1988. It was the first company to have its methodology certified as ISO 10668 (requirements for monetary brand valuation) compliant and it played a key role in the development of the standard itself. Since 2000, the Best Global Brands ranking and report has been published annually and is one of the most recognized rankings in brand management.