Dateline: 30/04/2001
First internet-based account management application to offer insurance customers access to global claims and risk-related data and services
SCHAUMBURG, IL, April 30, 2001 -- The Zurich Financial Services Group has launched an Internet-based account management application that provides corporate customers with interactive access to an array of risk-related data and services on a global basis, the company announced today. The platform, called Global Financial Intelligence SM (GFI), will initially offer service in two areas: a claims module that provides international program customers with critical claims information in a variety of formats, and a risk engineering module that offers customers access to comprehensive risk engineering data.
The Global Financial Intelligence platform is a web-based system that provides quality information, products and services to international program customers with global risk management concerns pertaining to non-life (property, casualty, and marine) coverage. The system manages a global database of claims and risk engineering information from more than 50 countries. By using a security code, customers can access their own data in a secure environment from any web-connected computer anywhere in the world.
"Zurich Financial Services is the first insurance provider to offer global corporate customers both the claims and risk engineering information they need to manage their global activities more effectively," said Joe Lunn, program manager for the Global Financial Intelligence system. "The GFI program is, of course, more than just a website that provides data -- it’s a sophisticated tool to enable customers to analyze and manage their risk information in a timely manner and on a truly global basis."
The claims component of the GFI system offers international program customers access to their own worldwide claims information; standard or customized reports on-line; loss reports in nine major currencies; additional user-defined fields that capture claims-related data of particular importance to the customer; and report data that can be extracted for uploading into other software applications.
The risk engineering component offers customers access to a global risk assessment reporting system, with advice and implementation management functions; a virtual risk management and safety training application; and a knowledge repository, including a search engine that performs customized searches across specialized risk management sources on the Internet as well as Zurich Risk Engineering’s own knowledge management systems.
"The ability to facilitate Internet access to comprehensive data in a variety of formats will be a significant differentiating factor for Zurich Financial Services within the expanding global corporate customer market," said Lunn. "It will also give us a more complete view of our business relationships with each customer, helping us to better understand their needs which, in turn, will enable us to serve these customers better."
The Zurich Financial Services Group (www.zurich.com) is a global leader in the financial services industry, providing its customers with solutions in the area of financial protection and asset accumulation. The Group concentrates its activities in five business segments: non-life and life insurance, reinsurance, Farmers Management Services and asset management. Headquartered in Zurich, Switzerland, the Group’s worldwide presence builds on strong positions in its three key markets: the United States, the United Kingdom and Switzerland. It has offices in more than 60 countries reaching 35 million customers and employing 70,000 people. Based on consolidated figures for 2000, the Group achieved gross premiums of USD 50 billion. This amount includes insurance deposits as well as premiums from the Farmers P&C Group. The net income amounted to USD 2.33 billion. On December 31, 2000, the Group had USD 440 billion of assets under management of which USD 259 billion represent funds managed for third-party institutional and retail customers.
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Betty Schwartz
Miller DeMartine Group
(201) 567-7783
bschwartz@mdgpr.com