Zurich Insurance Group - Insurer transformation Award 2022

1. © Zurich
© Zurich
© Zurich
© Zurich
Global Digital
Transformation Awards
2022 - The Digital Insurer
Zurich Insurance Group’s
application

2. © Zurich
© Zurich
Application overview
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Zurich’s holistic approach to innovation and technology
People & Digital Culture: the Make the Difference program
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Infrastructure: the Future of International Programs
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Ecosystems: the Zurich Innovation Championship
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Ecosystems:
Zurich Innovation
Championship

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Zurich Innovation Championship (ZIC)
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What is it?
• The Zurich Innovation Championship is
an open innovation program that
challenges some of the best
entrepreneurs worldwide to take on
business issues that have the potential to
change the future of insurance.
• It starts as a call to action to start-ups and
turns into a close collaboration between
Zurich Insurance Group (Zurich)’s
business units and the entrepreneurs
who agree to co-develop solutions
aiming to revolutionize the insurance
market.
How does it work
• The championship lasts approximately 1 year
and moves through three rounds during which
winners are selected from countries, then
narrowed to regional winners and, finally, to
global winners who are given the opportunity to
develop pilot projects with Zurich.
• ZIC receives leadership support from Zurich’s
participating organizational units, namely, heads
of countries, regions and group. It is led by the
innovation team and supported by the strategy
and business development, communications,
and marketing teams.
The mission
• Our vision is to help create an ecosystem where insurers,
customers and communities can collaborate with
entrepreneurs on the front line of innovation. The ZIC is
an open ecosystem that can include other organizations
that may become a part of the effort to deploy these
innovative approaches, hopefully making it easier for
communities and organizations to take on important
challenges that impact our world and our future.
• Externally, we aim to bring the most innovative ideas to
life as products and services that can be made available
to Zurich’s customers. Internally, we aim to break down
silos within the organization.
The results
We connected with more than 4,500 start-ups and generated
opportunities to collaborate with the best-in-class entrepreneurs and
innovate along the insurance value chain. Pilot projects have not only
kicked off with the global winners, but various Zurich business units
also continue to work with their local winners. With ZIC, we generated
positive PR and positioned Zurich as a leader in the Insurtech space
when it comes to innovation. ZIC has also contributed to foster a
startup mindset and create an open innovation platform that allows to
validate and scale innovation initiatives.
This process has been proven successful by the start-up
Zesty.ai which has helped improve the property
underwriting business at Farmers Group*. Zesty.ai uses AI
to understand the impact of climate risk to buildings and
delivers actionable insights to improve property resiliency
and protect homes, businesses and communities. The
start-up is now valued $145 millions and is forecasted to
bring significant business impact to Farmers.
*Zurich Insurance Group has no ownership interest in the Farmers Exchanges. Farmers Group, Inc., a Group wholly owned subsidiary of Zurich, provides certain non-claims services and ancillary services to the Farmers Exchanges as its attorney-in-fact and receives fees for its services.

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People &
Digital Culture:
Make the Difference

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Make the Difference
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What is it?
• Make the Difference provides a platform for
employees to challenge the status quo and shape
the future of Zurich and the insurance industry.
Now it its 10th cycle, and with 350 alumni, this
initiative aims to empower employees to take
action on creating the organization they want Zurich
to be for colleagues, customers and communities.
• As part of Make the Difference, the most recent
initiative called Zurich simplified campaign
promotes and celebrates initiatives that simplify the
way the business works. Its primary aim is to free
up people’s time in order to accelerate Zurich’s
efforts to become a simpler and better
organization for its employees, customers and
partners. This campaign runs globally and looks for
examples of where staff were already working to
reduce complexities. Through this campaign, Zurich
encourages staff to share best practices, and
rewards and recognizes those that had already
implemented simplified solutions.
How does it work
• To sustain this campaign, Zurich used a global employee
platform called Workplace to issue an open challenge to all
employees to showcase simple solutions already
implemented across the business, helping them to show
that achieving simplicity isn’t complicated. For every
engagement – like, comment, share – Zurich donated CHF 1
to JA Worldwide, which aims to support young people with
the employment and entrepreneurship skillsets and mindsets
they need to succeed.
• Every three weeks, Zurich encourages employees to upload
‘Simplified Solutions’ for a chosen department. The format
consists of three simple questions: why do we need to
simplify? How have we simplified? And what has the
impact been? All simplification initiatives shared on
Workplace are assessed for scalability and their cross-
country potential.
The mission
• The mission of Make the Difference
is to implement Zurich’s strategy
via bottom-up empowerment of
Zurich’s employees by reaching all
regions and all employees, and by
allowing them to share successful
initiatives implemented to simplify
Zurich.
• The effort doesn’t stop there,
increasing awareness and
transparency on what works, allows
us to scale successful solutions
across the world, driving efficiency
and consistency in how we serve
our customers & partners.
The
results
+ 10,000
employees engaged
across 4 regions in 28
countries
70
initiatives
launched
40
global
events
+ 1,000
ideas
submitted
$25,000
donated to charity

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Infrastructure:
Future of
International Programs

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Future of International Programs
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What is it?
• The Zurich International Programs are overarching
policies that provide insurance coverage to
different territories and legal entities. Zurich’s global
customers purchase, manage and coordinate
International Programs centrally to provide their
local subsidiaries with the same comprehensive
insurance coverage as the holding company and
create full transparency and cost efficiencies.
Serviced by a team of global and local insurance
experts, Zurich International Programs put the
customer at the center and deliver an end-to-end
solution that fits the customer’s needs from
structuring the insurance program to managing
claims.
• The Future of International Programs project aims to
modernize the Zurich International Programs by
underpinning this offering with a digitalized and
interconnected IT infrastructure.
How does it work
• The Future of International Programs project comprises five key
initiatives. The first initiative looks at improving the activities
required to produce a policy, the second initiative looks at
improving the activities required to receive a policy, the third
initiative looks at enhancing how the customers and partners
operate and interact with the International Programs, the fourth
initiative looks at simplifying the offering for the mid-market, and
the fifth initiative looks at digitalizing all interactions with
customers.
• The project introduces a single system for connecting
underwriting data to issuance. It automates and integrates the
current legacy systems into one allowing consistent data flows
along the end-to-end policy process, reducing the manual entries
and consequently creating less errors in the issuance of policies.
Quotations are also delivered faster thanks to less incorrect entries
and by moving to online processes, leakages are reduced too.
Multiple applications still sit behind this system, but users
experience only one via API connectivity.
The mission
The Future of International
Programs’ mission is to deliver
superior service that is fast,
seamless, sustainable, and fully
supported by a global and agile
team of experts all underpinned
by a modern and interconnected
IT infrastructure enabling flexible,
digitalized products which support
Zurich’s end-to-end processes
that reflect the customers’ global
responsibilities. The Future of
International Programs’ ambition is
to have all IP data leaving or
entering Zurich exchanged
digitally.
The results
2,000
customers now fully onboarded to online
portal My Zurich 100% international
clients onboarded by 2024.
10
implementations of API connection with
customer systems 200 customers use
API connection with their system by 2025.
1
implementation with broker system in
progress Being connected with
systems of the top 10 brokers by 2025.

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A 150 years
young insurer
that remains at
the forefront of
innovation

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We use a collaborative approach that is driven by open innovation
and underpinned by technology
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Board of Directors
& senior leadership
Business units
Regulators
Big Tech
companies
Industry peers
Academia
NGOs
Customers
Communities
Employees
Start-ups
Internal partners External partners
Make the Difference
program
Zurich Innovation
Championship
Future of
International
Programs
Technology
Digital
Data Platforms

11. © Zurich
© Zurich
Thank you