Zurich North America, along with its mother or father firm Zurich Insurance coverage Group, is inviting startups to affix the third iteration of its Zurich Innovation Championship.
The corporate will choose as much as 12 startups from around the globe in early 2022 for an “intensive” three-month “Innovation Championship Accelerator” section – a brand new section added to this system for this 12 months, a launch mentioned. This system provides these up-and-coming startups alternatives to develop and collaborate on options for the insurance coverage trade.
“The Zurich Innovation Championship permits us to attach with transformative improvements that may deal with the evolving wants of our prospects, brokers, workers and the planet,” mentioned Zurich North America head of technique, Innovation & enterprise improvement Neeren Chauhan. “The competitors gives the perfect and brightest startups and entrepreneurs the chance to shine on the world stage and collaborate with a worldwide firm whose work is deepening and increasing the insurance coverage worth chain.”
Zurich mentioned that to use for this system, startups and their initiatives should deal with insurance coverage trade challenges that fall inside considered one of 4 classes:
- Prevention and mitigation: Options that may enhance the shopper expertise and assist them higher perceive, stop and handle dangers.
- Simplicity: Easy options that enhance the insurance coverage worth chain from danger evaluation to components of insurance coverage distribution.
- Sustainability: Sustainable options for purchasers, communities, brokers and workers, in addition to options to assist construct confidence in at this time’s society.
- Insurance coverage reimagined: All different initiatives designed to create differentiating propositions associated to Zurich’s objective to “construct a brighter future collectively.”
Startups that make it to the three-month accelerator section of this system will every be offered as much as $100,000 in monetary assist by Zurich, in addition to skilled assist from the corporate’s insurance coverage professionals.
The third Zurich Innovation Championship will run from April by way of June 2022, which can be adopted by an implementation section that may run by way of September 2022. entrepreneurs might join this system by way of Zurich’s web site.