Like all competitors, HDI Deutschland faces a wide range of challenges in a rapidly changing insurance market. In view of regulatory requirements, technological innovations and an highly competitive environment, the Group is focusing on clear strategic priorities and on its own strengths in its core business. In this interview, Jens Warkentin, CEO of HDI Deutschland AG and CIO and board member of the parent company Talanx AG, talks about trends that are shaping the industry and the need to place IT skills at the heart of HR strategy. He also shows how HDI is establishing a corporate culture of responsibility and modern leadership.
What do you think are the top success factors, especially in your industry? And what are the biggest challenges?
WARKENTIN We have over 80 life insurance companies and over 90 car insurance companies in Germany. There is an overcapacity in the retail business with increasing regulatory challenges at the same time. All this in an environment without any major economic stimulus in Germany. In the face of these challenges, we are focusing on the essentials. That is the decisive factor for success.
What strategic priorities are currently at the top of your management agenda?
WARKENTIN In view of the current developments in Germany and the insurance market, it is essential to manage strategic initiatives in a targeted manner. The challenges include the weak economy, inflation - especially for vehicle parts and workshop prices -, increasing regulatory requirements such as the Digital Operational Resilience Act (DORA) in the IT sector and the shortage of skilled workers in specialized areas.
In this context, "focus" is a key value for me: not getting bogged down in too many details, but concentrating on the regulatory framework, which is a prerequisite for our core business, operational and digital resilience and then very targeted investments in our core business.
Our main focus is on specializing in companies and liberal professions in property/casualty insurance as well as biometrics and annex business in personal insurance. We are strengthening our exclusivity organization in all relevant product areas. An overarching commitment to ensuring this focus is currently one of the most important priorities of my work.
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