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Allianz Life Korea signs a Ten Year Outsourcing Contract with IBM

IBM to provide operation and management services of data center and disaster recovery center to Allianz Life

April 14, 2005 - 14 Apr 2005: IBM announced today that Allianz Life Korea has contracted IBM to operate and manage Allianz's IT infrastructure under a ten year outsourcing agreement, that will enable Allianz to strengthen its IT infrastructure, while freeing the company to concentrate on its core business. IBM Korea will manage Allianz's servers and storage and operate both data and disaster recovery centers.

This is the first time a domestic financial institution has outsourced IT services to a non-subsidiary company, and Allianz's move is seen as having the potential to set a trend for others in the financial services market.

The outsourcing decision by Allianz comes after a one-year review process, which included assessing bids from eight large IT companies and conducting a thorough risk and benefit analysis.

The agreement will enable Allianz Life to utilize IBM's experience and technical expertise in operating its data centers. A support system for advanced information systems will be established to realize cost efficiencies and improve service quality. In addition, IBM's workforce and hardware and software will be used to provide stable information management systems, while reducing longer-term computing costs. Allianz will be charged fees based on actual computer usage, under IBM's on demand pricing model, which will provide Allianz with a responsive IT system that is both flexible and cost-efficient. Ultimately, Allianz will increase its competitiveness thanks to improved business capabilities and cost efficiencies.

Bertrand d'Origny, Vice President Operations for Allianz Life Korea said, "Outsourcing the data centers releases key Allianz IT staff from day-to-day operational issues and allows them to focus on high-value application development tasks supporting our internal users and external customers, while at the same time generating overall cost savings for the company."

Kyungjo Lee, General manager of IBM Global Services Korea said, "IBM is dedicated to working with our clients to provide business and technology services that deliver real business outcomes. With this agreement, IBM Korea is seeking to play the role of valued adviser and partner, supporting Allianz Life in its move to become an on demand business with strengthened IT and management systems that are able to quickly scale up or down in response to changing market conditions."



About Allianz Life Korea
Allianz Life Korea is a wholly owned subsidiary of the worldwide Allianz Group, offering Koreans the resources of one of the world's largest insurers and investment managers. Allianz arrived in Korea in 1999, when it acquired the long established local life insurer, Jeil Life. Allianz aims to build a reliable, profitable and customer-centric life insurance company by delivering excellence in everything it does. Allianz Life is Korea's fourth largest life insurance company, delivering life insurance and financial products to approximately 1.3 million customers across the nation. For more information, please visit www.allianzlife.co.kr

Source : IBM

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