Innovation & Technology at Zurich

Zurich Insurance Group has teamed up with Polish insurtech Quantee to boost its AI-powered pricing capabilities. This collaboation aims to refine Zurich's pricing strategies, ensuring greater accuracy and personalization for customers. It also shows Zurich's dedication to adopting innovative insurtech solutions, further solidifying its position as a leader in the industry's digital transformation.

For the fifth time, Zurich invited startups to apply to its industry-leading startup program, the Zurich Innovation Championship, in one of four categories for the chance to work with Zurich locally and globally – joining more than 50 already ongoing collaborations. The ten winning startups will enter a validation phase, stretching four months from end-May to end-September 2024, receiving project funding of up to USD 100,000.

Zurich UK has reduced average contents insurance claim times to 13 minutes for customers using the new communication channel HelloZurich. The video messaging service tool has seen a 400% increase in customer uptake. Zurich continues to implement technology to help ease the claims process for policyholders.

The Zurich Innovation Championship 2023’s 12 winning initiatives took stage at the company’s first Innovatio Demo Day to celebrate successfully completing a four-month long accelerator. The initiatives are now being executed locally, with the chance to get scaled globally.

The acquisition of SpearTip, a cyber counterintelligence firm, expands the cyber risk mitigation services available from Zurich Resilience Solutions, a global division of Zurich’s Commercial Insurance Business, to support customers’ growing needs for comprehensive cyber risk management support amidst a challenging risk landscape.

Through Zurich Edge, Zurich is bringing together their new suite of technology capabilities and insurance expertise to provide partners and their customers with a refreshed, seamless and elevated approach to digitally embedded insurance – across all Asian markets where Zurich operates.

Zurich Insurance Group announced that it entered a strategic partnership with Belgium-based Qover through Zurich Global Ventures as part of which Zurich also joined the insurtech’s Series C funding round. This collaboration with Zurich Global Ventures emphasizes Zurich’s ambition to find new ways to distribute innovative insurance products and services to reach customers exactly where and when they need it.

Global cyber insurtech BOXX Insurance provides fully-integrated cybersecurity and insurance solutions for small-to-medium-sized businesses (SMEs), consumers and families. In September 2021, Zurich had already announced that it had joined the insurtech’s Series A funding round.

The newly created global API marketplace Zurich eXchange brings together the best services from across the Zurich Group, enabling faster integration and more efficient collaboration throughout the company and with customers and partners. The move marks the next chapter of Zurich’s digital transformation journey.