Zurich launches Innovation Championship 2020
September 24, 2019
Our second global competition and its theme, “Protecting the Next Generation,” will give innovative start-ups the opportunity to help us transform the insurtech space.
Zurich has launched Zurich Innovation Championship 2020, offering the best and brightest startups and entrepreneurs the opportunity to work with a global insurance carrier. The kickoff of the second Innovation Championship follows a successful 2019 inaugural Zurich Innovation World Championship, which saw hundreds of entrants from around the world.
Zurich made the global announcement during InsureTech Connect in Las Vegas on Sept. 24. The 2020 competition will focus on “Protecting the Next Generation,” specifically, innovative business models that tackle challenges around climate, health, automation and other issues expected to put a strain on the next generation.
Each of Zurich’s participating country’s businesses will select one startup and develop a use case together over a five-month period. The field will then be narrowed to eight for the final round in August 2020. Three winners will have the chance to work with Zurich on a local pilot with the goal to scale it globally.
“As we continue to deliver for our customers in ways that are truly customer-led, innovating with our customers in mind is at the forefront,” said Chief Operating Officer Anurag Batta. “The Innovation Championship contest is an excellent platform for us to find insurtechs with whom we can collaborate to deliver innovative products and solutions that will address the evolving needs of our customers now and in the future.”
Sumeet Bhatia, Head of Innovation for Zurich North America, added, “This is an exciting way to connect with the best and the brightest start-ups that align with our strategy and help us augment our innovation capabilities.”
“In North America we will be looking for applications with uniqueness in innovation; practical solutions that can be piloted and tested quickly; and overall, a good pitch that clearly articulates value for our customers, distributors and Zurich,” Bhatia said.
Ambitious startups and entrepreneurs can register at Zurich’s Innovation Championship page through Dec. 17, 2019.
Zurich’s inaugural Innovation Championship in 2018-2019 received more than 450 entries from 49 countries. Zurich North America invited 16 of these entrants to the North America Headquarters Innovation Lab, where the companies pitched their products and services and demonstrated how engaging with them would help further Zurich's innovation efforts. The first- and second-place winners of the 2019 competition, Chisel and zesty.ai, respectively, were North American entrants. Zurich is currently working with these companies on innovative solutions that will help us deliver exceptional customer experiences.
AM Best TV was in Las Vegas for InsureTech Connect and recorded an interview with Giovanni Giuliani, Group Head of Strategy, Innovation and Business Development, and Ron Glozman, founder of Chisel. Watch the video here.
For more information on the Innovation Championship, please see the news release here.