Dateline: 18/11/1998
SCHAUMBURG, IL, November 18 -- To provide a superior program that meets the specific risk management requirements of technology businesses, the Zurich Financial Services Group in the U.S. has formed a new organization called Zurich Technology Risk Services (ZTRS). Zurich's technology customers include telecommunications, electronics, software, hardware, biotechnology, semiconductor services and manufacturing companies. Customer size ranges from startup companies to the largest technology multinational operations.
ZTRS was created to provide technology customers, agents and brokers with an alternative avenue to access the full selection of Zurich-U.S. risk transfer, risk financing, and product and service capabilities. ZTRS offers a single contact person, known as an "architect," who serves as one point of entry for producers and customers into the Zurich organization. The ZTRS architect will evaluate each technology customer's complete portfolio to help build a total technology solution based on Zurich's full array of products and services. The technical expertise of underwriting, claims, and risk engineering will be provided through Zurich’s strategic business units (SBUs).
The ZTRS organization adds greater accessibility to Zurich capabilities. Customers and distributors can continue to work directly with the individual Zurich SBUs, or contact ZTRS to access the full range of Zurich products and services.
"We want to handle a technology customer's complete portfolio irrespective of size or need," explained John Dawson, ZTRS president. "By having a single group within Zurich focused on the technology buyer and technology distributors, Zurich is poised to create a truly effective solution for each technology customer. And, with Zurich's international network, we can put together a comprehensive program around the world for a global technology company or help a new technology company as it grows into new markets."
With roughly $186 million in technology premium as a foundation, Zurich is leveraging its resources to deliver stronger and more focused products and services. Initial product development for technology customers includes Errors & Omissions (E&O) and Directors & Officers (D&O) coverages and global coverages, in addition to the standard property and casualty products. Zurich has also developed 24-hour integrated disability service programs, worldwide travel assistance, global auto coverage, LegalHelpDesk ™, and ISO 9001 certified risk engineering services.
Based on technology premium from all Zurich operations across the country, Zurich is one of the top insurance providers for technology customers in the U.S. "Imagine what we can provide to technology customers if we focus all the resources of Zurich on this market through Zurich Technology Risk Services," emphasized Doug Gaudet, President of Zurich Commercial’s Service & Technology strategic business unit.
To request a CD-ROM about ZTRS capabilities for risk-managed customers, readers may call Joy Weslo at 847-605-7541. Readers may also contact John Dawson directly at 847-605-3356 or E-mail him at john.dawson@Zurich.com for further information. The Web address for Zurich Technology Risk Services is http://www.ztrs.com
ZTRS is associated with Zurich-American Insurance Group and Zurich Commercial, members of the Zurich Financial Services Group, one of the global leaders in the financial services industry. Providing its customers with products and solutions in the area of financial protection and asset accumulation, Zurich Financial Services concentrates its activities in four core businesses: non-life and life insurance, reinsurance and asset management. Headquartered in Zurich, Switzerland, the Group operates in 60 countries, reaching more than 30 million customers. Worldwide, 68,000 employees serve these customers.
In 1997, the Group achieved gross premiums and policy fees of more than $44 billion (USD) and a consolidated net income of $1,238 million. The Group has $375 billion in overall assets under management of which $222 billion represent funds managed for third-party institution and retail customers.
The Zurich Financial Services Group was created in September, 1998, through the merger of the Zurich Group with the financial services businesses of B.A.T. Industries p.l.c. Zurich Financial Services is a Swiss holding company in which all the operating entities of both the former Zurich Group and the financial services business of B.A.T. Industries have been combined under a single management team.
In the United States, the Zurich Financial Services Group is represented by the unique network of resources and capabilities provided by its 11 complementary business units, each with distinct competencies. Together, the business units provide an extensive mix of financial service products and services that are aligned with multiple solutions for businesses and individuals.
Zurich is represented in the U.S. by the following business units: Zurich-American Insurance (Schaumburg, IL), Zurich Centre Group (New York, NY), Zurich Commercial (Baltimore, MD), Zurich Kemper Life (Chicago, IL), Zurich Small Business (Baltimore, MD), Empire Fire and Marine (Omaha, NE), Farmers Insurance Group (Los Angeles, CA), Fidelity & Deposit (Baltimore, MD), Risk Enterprise Management (New York, NY), Scudder Kemper Investments (New York, NY), and Universal Underwriters (Kansas City, KS).
For additional information, please contact Patricia Schnably at 410-338-2755.