Allianz is a financial service company. They offer a comprehensive range of insurances and asset management products and services to 85 million customers in more than 70 countries.
Since Allianz is a financial service company they measure things and look at most factors from a financial benefit. Allianz believes in ascribing an idea value in an open idea generation process.
If you should use effort to take an idea forward, there need to be a conviction as to why this idea should be implemented.
Within Allianz UK, they believe in giving ideas value. Not only does this give a strong message to report back in to the leadership, it also enhances the chances of getting the ideas implemented. The value is not only measured in a financial perspective but also in terms of a better brand, better reputation, better costumer service or better employee engagement.
Giving ideas value encourages everybody to be robust around the decision making, because they consider the following:
- Is this idea something the company should invest in?
- Is this idea going to deliver positive improvement for the company?
Ascribing an idea financial value can be a challenge and that is why Allianz has integrated a training program with a network of champions and real experts throughout their business, who are able to assist individual staff members with writing cost-benefit analysis that describes the benefit of their idea.
Every year Allianz hands out a reward for the most valuable innovation. They are ranking all the financial value ideas, in that way they have ideas that save 50 pounds, 100 pounds and all the way to a few million pounds. The individual behind the idea is rewarded 10 percent of the value of the innovation. In return, Allianz receives valuable ideas that have high impact for their business.
Get a closer look why Allianz value every idea
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