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Zurich opens InsurTech competition

Zurich Insurance Group has announced the launch of its Zurich Innovation World Championship, which aims find the ‘brightest and best’ InsurTech start-ups and entrepreneurs to collaborate with.

Established start-ups have the chance to enter the competition, which will see the winners given the opportunity to their solutions for Zurich’s customers in selected countries. It is open to companies from more than 20 countries and is specifically looking into start-ups in the fields of mobility, smart homes and buildings, digital health and financial planning.

“Zurich is committed to being a groundbreaking customer-led insurer and wants to accelerate the transformation of its business model by refocusing its offerings to ensure they meet the needs of today’s digital-savvy customers,” Giovanni Giuliani, Group Chief Strategy, Innovation and Business Development Officer said. “The Zurich Innovation World Championship will give entrepreneurs the opportunity to drive transformation of the insurance industry.”

The competition consists of several rounds. Companies will firstly run against other competitors from their own country and then these winners will be put into regional rounds.

The winners of the North America, Latin America, Europe and Middle East and Asia Pacific regional rounds will then be entered into the final global competition round.

There are awards for first, second and third place, with all winners receiving resources to conduct their pilot programme. The winners will be announced in February 2019.

Source: International Travel and Health Insurance Journal.

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