Innovative minds, sustainable talent

At the end of 2021, Frank Streidl, Head of Commercial Insurance at Zurich UK, was in his London office rifling through CVs, when he got to thinking. Why, he wondered, was there such a dearth of talent in the sustainable energy space? Would it not be better – taking a page from some of the most successful sports clubs – to develop homegrown talent from within and nurture it in-house?

By the following year, Zurich’s Sustainable Energy Graduate Program, was born. “It was really that simple,” says Streidl on a Teams call last month. “Everyone wants to do more in sustainable renewable energy, but there aren’t a lot of qualified people out there. So we just decided to build our own. We will inevitably need more and more good people as we progress on our net-zero journey. This will be the best mid- to long-term strategy.”

The two-year program, which was officially launched in September 2023, allows students with no background in insurance to join Zurich and rotate through three eight-month cycles between three critical teams: energy, marine and construction underwriting; claims; and Zurich Resilience Solutions (essentially risk engineering). The aim is to expose the students to the many facets of the insurance business, all with a focus on sustainable energy. The program is paid with full medical cover, holiday time, pension contribution, and potential for a company bonus, plus other perks.

There are specific requirements: applicants must have the right to work in the UK and must be studying at a university; they need to have achieved – or be on track to achieve – a 2.1 from their bachelors; have 96 UCAS points from three A-level subjects; and a minimum grade of C/4 in math and English. Interestingly, the applicant’s university is not considered in the hiring process. Streidl, a native of Munich – who was schooled in Germany, in Holland for university and in Canada for his MBA – applauds this approach. “It allows us to look at a highly diverse group of people coming through, and it enriches our way of thinking.”

‘Impressive young people’

Sam Richardson is Head of Energy, Marine and Construction at Zurich Resilience Solutions and has been supervising the day-to-day of the program while the original manager, Kayne Sheppard, is on sabbatical. “They’re really impressive young people, and I love working with them,” says Richardson, who has been with the company for a little over two years. Then he adds with a laugh, “It’s not a program I want to give back when Kayne returns.”

“These young professionals challenge us,” Streidl says, “and that’s exactly what we wanted to do. Even if they join us with no insurance background, and most don’t, their ideas and ideals feel like the right thing to get us ready to meet the future. Zurich is incredibly good and experienced in insurance, but are there lenses we should consider in the future? So they come in with that different spin.”

Over a year into the program – and with candidates being interviewed now for the second installment starting in November – what’s the verdict? Streidl says it’s been “extremely inspiring” adding, “I work very closely with them, and I enjoy the interaction. I learn a lot from every conversation.”

“These students really have a passion for sustainability, so it really means something to them,” Richardson says. If, for example, they are in underwriting, they are likely talking about new technology and how it can potentially impact the climate transition – and how that, in turn, can potentially impact underwriting going forward. “They’re understanding trends in the market,” he says, “which rubs off on other people and makes a difference.”

An opportunity to excel

And how do the students evaluate the program thus far? Himmat Sohal, 25, who recently completed a master’s in chemical engineering, is impressed on many levels.

“The flexibility between my rotational role and the ability to learn more in the sustainable space by completing side projects and attending events has been a great learning experience,” he says. “We have had the opportunity to present to the leadership team on multiple occasions, which is also nice, and to build a rapport with them. It feels as if they really are interested in the work we do. The global nature of the company is attractive also, and you can see the work is relevant globally. It feels like there’s a lot of opportunity at Zurich….You really feel there is an opportunity to excel.”

For Sohal, the fact that the program centered on sustainability was a huge draw. During his college years, he founded, and was part of, sustainability groups working with local water companies to save water at schools and creating green spaces to improve biodiversity on campus. At university, he was a member of the chemical engineering sustainability group and focused on tackling food waste. “So Zurich’s program attracted me as soon as I saw its name,” he says.

After a year-and-a-half, Sohal has learned a lot about the insurance world. “We have the opportunity to engage in market-wide conferences and events regarding sustainability, which is great for our network,” he says. “We also have specific projects that focus us on specific areas of sustainable energy and sustainability in general. In each role, I have learned about the function, its processes and procedures and the focus of sustainable energy within the department.”

He also feels as if he’s been able to make real contributions. “Definitely, especially within the projects I am completing, focused on Battery Energy Storage Systems,” he says. “This is fee-paying work, which utilizes my expertise on BESS to complete reports for clients. I am regularly talking to external stakeholders, and I have had the opportunity to deliver a keynote speech on behalf of Zurich on the risks of BESS at a European distributors summit.”

Walking the walk

Timotej Zrnec, 23, studied finance as an undergrauate and was, like Sohal, attracted to the sustainability aspect of it. “I think people and society at large would benefit from a reduction of emissions and cleaner spaces,” says Zrnec, who, after completing the first stage in underwriting, is now in risk engineering. “Fresher air, less noise from the cars, better food, it goes on and on.”

He says he learned a lot from Kayne Sheppard when he was still managing the program. “I helped him with the parametric insurance proposition, where I learned not to be afraid to act on your ideas and find support within and outside the company. I learned how insurance as a business works, and who are the main players….[Sheppard] pushed me to go beyond my abilities.”

Zrnec also appreciates that the sustainable energy graduates are close-knit, “probably because we have projects that we have to work on together – like how to profitably insure EVs and carbon credit insurance.”

Applications poured in for the next installment of the graduate program – beginning in September 2025 with three new slots – a sign that the scheme has already left a mark, especially among those from lower economic backgrounds.

“We’re proud of that,” says Michelle Ransome, Zurich UK’s Talent Acquisition Manager. “We like to think that we really walk the walk at Zurich when it comes to graduates and attracting individuals from a diverse talent pool.”

Ayanah M.Gulfraz is one of the new joiners who will be starting in September. “I applied because I believe it will provide me with the opportunity to use the broadest range of my skills, from technical data analysis to communication and teamwork,” she says. “Zurich is dedicated to helping secure a sustainable future for all and by joining this program, I can channel my efforts into doing the same.” Gulfraz says that she’s looking forward to the rotations in the different parts of the businesses. “There will be countless opportunities to work with others across the company, and I am excited to be a part of a strong and supportive network.”

“I’ve been in the industry for more than 20 years now,” Streidl says, “and at a certain point you can get so focused on the day-to-day of insurance that you might miss something out there. So that’s what’s behind this. We’re all different generations with different attitudes, different skills and different experiences. So that difference in the way of thinking is what makes this so special. It’s exciting for the next generation coming through, and we should listen carefully to them.”