Right from its inception in 1872, Zurich Insurance worked beyond the borders of Switzerland. By 1880, it was an international name with companies in Europe and by 1912, it had a presence in the US. After World War I,
Zurich Insurance was Europe’s first casualty insurer in the UK insurance market and in 1923; it opened an office in Canada.
Today,
Zurich Insurance Company is present in North America, Latin America, Europe, Asia Pacific and other international markets and focuses on offering General Insurance and Life Insurance to individuals, small and large businesses and multinational companies. It has 58,000 employees working across 170 countries.
It offers over 50 Insurance and financial products such as car, accident, general, environmental, machinery breakdown, property, household/homeowners insurance. Among services, it offers captive management, claims management, risk consulting, risk management, etc.
Zurich Insurance’s objective is to build value for its employees, shareholders and customers; to be problem solvers to their big and small clients and to be adaptable in a changing market.
This Company has adopted an easy way of doing business with customers—by offering a slew of options, including their agents, sales personnel, financial advisors, brokers and associates.
Zurich Insurance is accessible by phone and Internet and is linking up with banks, stores, credit unions, car dealers and gas filling stations, thereby increasing its accessibility. For the customer, this means an easy approach to handling claims—something they can do through agents, brokers or loss adjusters.
Zurich Insurance has made many valuable partnerships wherever it has set up shop. For instance, in it has tied up with Deutsche Bank to distribute its financial products and services in Germany, Spain and Italy; in Germany with ADAC (Allgemeiner Deutscher Automobilclub), a roadside assistance organization and with 520 JET filling stations and 400 C&A stores to sell
Zurich Car Insurance.
In Spain, Zurich Insurance sells car insurance through very large savings banks; in the US, this Company is No. 3 small business insurer with 39,000 agents; and with Farmers New World Life, USA, it focuses on protecting products for the middle-class comprising 63 million households.
In the UK,
Zurich Advice Network of franchisees has given way to the retail distribution company, Openwork, to sell Zurich Insurance’s products.
This Company has made a name for itself not just in mature markets such as UK, USA, Germany and Italy but also in Australia, Japan, Greater China and South Africa. In all the countries it works in, it has made a prestigious place for itself, such as:
- No. 2 commercial insurer in the US
- No. 1 in direct car insurance in Germany
- No. 2 in general insurance in Switzerland
- No. 2 in providing unit-linked products in Hong Kong
In the past four years,
Zurich Insurance has shown good financial results, due largely to:
- The Zurich Way: This produced very good systems of working and operating platforms which enhanced consistency at work and efficiency
- Managing talent: This has enabled the Company to utilize the right skills of their staff at the appropriate time
- Brand building: This gives the Company better leverage as an insurer who can anticipate the needs of its customers
