Start-up Parametrix is moving on to the EMEA (Europe, the Middle East, and Africa) round of Zurich’s World Innovation Championship in June after emerging as the winner from the UK.
“The pursuit of innovation, for the benefit of our customers, is a pillar of Zurich Insurance UK’s growth ambitions, so we’re thrilled to be presenting Parametrix as the UK champion,” said Mark Budd, head of innovation at Zurich in the UK.
“Our work doesn’t stop here and we will work tirelessly with the Parametrix team so they can put their best foot forward for the next round.”
Out of 169 applications, six finalists battled it out in the UK to become the country representative. Parametrix, which creates index-based insurance policies aimed at protecting businesses against downtime from their IT provider, is now among the 26 country winners that will be narrowed down to eight regional winners.
Commenting on the win, Parametrix co-founder and chief operating officer Ori Cohen (pictured) stated: “We see the UK as a centre for insurance and being chosen as UK finalist is a great honour for us. We are very grateful for the opportunity to present to Zurich’s executive team and are excited about the possibility of working in partnership to develop our solution to support Zurich’s customers globally.”
While Parametrix was founded in Israel, the business is looking to develop in the UK and overseas.
The final round of the World Innovation Championship takes place in the third quarter, with three winners to have the opportunity to work with Zurich on a local pilot with the goal of scaling globally.
