On your mark, get set, innovate! Zurich’s global startup program kicks off 2024 edition
- For the fifth time, Zurich is calling startups around the globe to apply to its industry-leading startup program
- Startups can sign up here for one of four categories as of today, January 8
- Since launching its first edition in 2018, the Zurich Innovation Championship has attracted more than 8,000 submissions and resulted in more than 50 ongoing startup collaborations
Against a backdrop of unprecedented technological advancement, Zurich Insurance Group (Zurich) is launching the fifth edition of its global startup program, the Zurich Innovation Championship. As the largest open innovation contest for startups in the industry, the Innovation Championship invites startups from all across the globe to sign up for one of four categories for the chance to work with Zurich locally and globally – joining more than 50 already ongoing collaborations.
Joining forces with top innovators and startups, we're redefining insurance at the dawn of hyper-innovation. Beyond this global championship, we're reaching new heights to make life better and simpler.
Ericson Chan, Group Chief Information and Digital Officer
What sets the Zurich Innovation Championship apart are its matchmaking approach, global reach and the close collaboration from the outset between participating startups and the most compatible business units within the organization. Country executive teams select the startups they are most passionate about working with. This allows business units to collaborate with startups that are the best fit for them and their specific challenge. Then ten members of Zurich's executive leadership team choose the global winners (the startup and the business unit judged together) where they see the greatest global potential.
The ten winning startups now enter a validation phase, stretching four months from end-May to end-September 2024, receiving project funding of up to USD 100,000. During this phase, the startups work closely with the country teams and receive further coaching from subject matter experts, high potential intrapreneurs as well as expert mentors. Together, they prove how their joint solution can deliver customer and business value and prepare a plan to adopt it locally and ultimately across the Group. The Championship culminates in an Innovation Demo Day in September 2024 where the successful initiatives will present their achievements.
Building on the success of the first four editions, which have led to over 50 ongoing collaborations, our program continues to evolve and grow its impact. This makes me even more excited for this year’s edition and the initiatives we will see come out of it as a result.
Paolo Mantero, Group Chief Strategy Officer
This year’s challenges
As in previous years, startups can sign up for different categories, with ten winners across the following categories:
- Commercial Insurance: How might Zurich maintain its success in Commercial Insurance by improving its technical insights and providing a better experience to customers?
- Digital Simplification: How might Zurich continue the digitalization of its core to ensure efficiency and agility while supporting an exceptional experience for both customers and employees?
- Life & Health: How might Zurich fortify its position within the life sector by addressing the evolving needs of its customers, and fostering sustainable growth?
- Retail P&C: How might Zurich grow in the retail sector by protecting the things people love and interacting where and when they choose?
The Zurich Innovation Championship is once again working with leading players in the startup ecosystem, including F6S, Plug and Play Tech Center, and SOSA.
For more details on the Zurich Innovation Championship and how to sign up, please click here1.
1 Submission open till February 14, 2024, 11:59 p.m. CET
Download
Contacts
- Media Relations
- Investor Relations
Zurich Insurance Group (Zurich) is a leading multi-line insurer serving people and businesses in more than 200 countries and territories. Founded 150 years ago, Zurich is transforming insurance. In addition to providing insurance protection, Zurich is increasingly offering prevention services such as those that promote wellbeing and enhance climate resilience.
Reflecting its purpose to ‘create a brighter future together,’ Zurich aspires to be one of the most responsible and impactful businesses in the world. It is targeting net-zero emissions by 2050 and has the highest-possible ESG rating from MSCI. In 2020, Zurich launched the Zurich Forest project to support reforestation and biodiversity restoration in Brazil.
The Group has about 60,000 employees and is headquartered in Zurich, Switzerland. Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information is available at www.zurich.com.