International programs seek world-class service from a crowded field of insurers

While Zurich has built a brand of customer service that it feels is a big reason for its success in developing long-term relationships with multinational customers, competitors are doing much of the same, said Carin Gantenbein, Head of Network Management, Commercial Insurance.

“Based on our Customer Value Proposition and the defined Customer Experience Standards, we want to provide world-class service,” and doing so is a way that Zurich has long differentiated itself in the market, Gantenbein said during the Zurich Network Partner Conference 2024. However, she stressed, the only way the insurer can continue to stand out among competitors is to listen closely to customers’ needs and develop cutting-edge solutions that fit the challenges in their international programs.

Building on a foundation of service

Zurich continues to hold to the tenets that define its service, Gantenbein said. And, while they are still valid, the insurer has bolstered them with a number of recent actions.

Gantenbein described Zurich’s promise to provide high-quality global and local service to international program customers as the “5 Cs”:

• Coverage: Zurich combines a broad range of products and services under one program in more than 210 countries and territories.
• Compliance: Customers rest easy knowing that there is alignment with local laws across all jurisdictions where coverage is in force and they are up to date on any regulatory changes.
• Control: A program structure ensures greater consistency and transparency while avoiding coverage gaps and duplication.
• Convenience: Management of coverages should be simplified and money flow for captive owners must be handled in a transparent, timely and seamless way.
• Costs: Program customers benefit from the effects of diversification and economies of scale.

Those promises have helped Zurich emerge as a leading provider of international programs for almost 50 years, but they are no longer enough, according to Gantenbein. Other insurers are adhering to similar tenets, she said.

“This is not going to be a big differentiating factor anymore,” Gantenbein said. “This is not where we will win this game going forward.”

It is the work being done “on the ground” to understand customer needs and provide the stellar service that they require that will keep Zurich out front as the insurer of choice, Gantenbein said. “This is where we really think we can make a difference.”

Soothing the pain points

Among the areas where Zurich is focusing on improving service is the use of technology to increase the speed of issuance of policy documents or making the flow of money more transparent, timely and efficient, Gantenbein said.

The benefits of improved technology are obvious, she said. In one case, the 80 hours it took to issue around 160 insurance certificates for a single customer was slashed to just four minutes when the documents were issued as e-certificates, Gantenbein explained.

Using legacy systems and keeping data in silos is a surefire way of damaging customer service, Gantenbein said. If systems are subpar and unable to connect with each other, significant problems will crop up, she added.

Updated IT systems play a role in speeding up the issuance of coverage-related documents, an area where Gantenbein acknowledges that Zurich is working to improve. The aim is to provide documents seamlessly and timely. And, of course, she added, producing documents that are “first-time correct and compliant.”

Zurich has taken steps to speed up issuance and data flow by further developing IT system integration through its entire value-chain – starting with customers and brokers and on to network partner companies and reinsurers - that allows information sharing with customers, application programming interface (API) solutions such as the Zurich Connector API Solution, electronic certificate issuance and other services.

The insurer has, for instance, through its Zurich Insurance Partner Universe (ZIPU) platform rolled out APIs with its network partners to improve claims management and payment. Part of its work is to provide claims insights to customers that give them more control over managing and avoiding claims.

The transparent and seamless flow of money related to premium payments and reinsurance receivables is a particular area of focus for Zurich, Gantenbein said. “While money-flow in the private arena has become nearly instant at any time of day, every day of the year, commercial insurers still don’t have that ability. This is certainly due to the complexity of the business, regulations and the sheer number of territories and parties involved, including customers, brokers, insurers, state reinsurers and others,” she added. “We as an industry need to think about how we can crack this nut.”

Zurich is advocating for local brokers to play a role in making money flows more transparent and seamless. And, the insurer has launched a reinsurance accounting module as part of ZIPU that helps track reinsurance receivables.

In the end, technology only can be a means to simplifying the way parties work together in a seamless and timely manner to deliver high-quality service to the customer, Gantenbein said. “While technology is an important enabler, much of the value from customer service depends on who is delivering it,” she added.

“This is how we go from good to great,” she said. “It’s the local servicing, the way we communicate, our long-term partnerships and how we are collaborating and finding for our customers the best solutions to the demands of an ever-changing regulatory, political, economic and technological risk landscape in order to “meet tomorrow prepared, together,” Gantenbein added .”

The conference brought together 50 Zurich network partners, a key customer, the insurer’s regional service center managers, the central network management team and senior leaders. The conference aims to improve communication and collaboration as a way to deliver world-class service to multinational customers.