Zurich bucked the industry trend two months ago when it revealed that it would
“cut back” on its tech spend and take a more strategic approach to its investments – and now it seems it has found a project that fits the bill.
The multi-line insurer has become the latest collaborator on the Startupbootcamp Insurtech accelerator program.
The program, which focuses on insurtech start-ups and corporate innovation, sees companies working together in order to improve customers’ experiences and expand service offerings. Already the likes of
Allianz, PwC,
Admiral, LV=,
Swiss Re and
Munich Re are among the re/insurance firms linked with the project and, according to Antony Elliott, Zurich’s group head of business transformation, the Swiss giant was keen to get in on the act.
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“From what we have seen so far, this year’s selection of startups have some really innovative approaches to improving how the insurance industry works for customers, as well as to increase operational efficiency,” he explained. “For us, it’s great to work with start-ups who are solving industry problems with propositions and services our customers desire, and to embrace certain aspects of the start-up culture.”
Overall, there are 29 partnerships backing the project and Sabine VanderLinden, managing director of Startupbootcamp Insurtech believes it is truly breaking ground.
“This collaboration will enable us to provide more international resources to our start-ups and drive innovation in the insurance industry through collaborative projects,” she explained.
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