Focused on customers
We work with startups specialized in digital technology, and we sometimes make strategic acquisitions to gain expertise, seize business opportunities, increase our scale and expand in attractive markets. We also develop solutions in-house, based on our experience and insights. At Zurich, all new ideas must pass one test: They must ultimately benefit our customers. Here are just a few of the many innovative solutions we’ve introduced to make customers’ lives better.
Rewarding healthy lifestyles
What if you could get encouragement for doing what’s good for you? Zurich introduced such an approach in Australia in 2019. Zurich LiveWell is a health and wellness online platform that rewards customers who choose a healthy lifestyle. Besides offering articles, recipes, medical dictionaries and other features, it allows customers to upload information from a wearable fitness device that tracks steps and physical activity. Customers who use it can get a discount on the cost of their life insurance and receive offers from selected third-party providers. Since launch in May 2019, some 30 percent of new life customers in Australia have opted for the Zurich LiveWell program.
Zurich klinc/Zurich Now
Sharing new ideas across markets
What do you get when you develop a good idea in one market, and transfer it to a second one? Two good solutions. That’s what Zurich did with Zurich klinc, a product we developed and introduced in Spain targeting younger customers who want insurance they can turn on and off to cover items like mobile devices and headphones, computers, cameras, e-bikes, smart watches and scooters. Launched in Spain in 2018, klinc sold over 10,000 policies in that market, mostly to new customers. And, in 2019 Zurich’s business in Argentina introduced a product based on klinc called Zurich Now covering smart phones, tablets and notebooks. Since launch in April 2019 in Argentina, Zurich Now has achieved strong sales with over two-thirds of customers aged 25 to 45. And received more than 20,000 inquiries online from potential customers in the first months after introduction, helping us to promote our brand more widely in Argentina.
Working with a startup on innovative cycle insurance
Zurich works with London-based start-up Laka, a broker which offers a unique approach to insurance. Laka provides cover for higher-value bikes in the UK with a digital insurance model allowing customers to pay a variable monthly premium based on their share of the overall cost of claims. As passionate experts in cycling, it aims to offer competitive and transparent pricing and since launching in 2018, has written over 3,000 policies. Its offerings include cover for bicycles while traveling and for amateur racing. Laka continues to grow, has received excellent customer feedback and won a UK industry start-up award in 2019.