Munich Re Unit to Cut 1,000 Positions As AI Takes Over

Munich Re’s primary insurance unit Ergo aims to cut about 1,000 positions in Germany, partly as a result of its increased use of artificial intelligence.

The cuts affect simple and repetitive tasks in telephony and claims processing, a spokesman said on Tuesday. They will take place over five years through the end of 2030, with Ergo saying there will be no forced redundancies during this time.