February 14, 2018
February 14, 2018 | Media Releases
Zurich joins forces with insurtech start-up Blue Zebra to launch personal lines offering
Zurich Australian Insurance Ltd (‘Zurich’) has today announced a strategic partnership with insurtech underwriting agency start-up Blue Zebra Insurance Pty Ltd (‘Blue Zebra’), to offer a digitally-enabled, end-to-end personal lines insurance platform to brokers.
The partnership comes after both parties identified an opportunity for personal service and advice to reassert its place in the multi-billion dollar personal lines insurance market in Australia.
Raj Nanra, CEO, General Insurance, Zurich Australia & New Zealand, said: “A significant proportion of Australian consumers need advice on their personal insurance needs, but to date choice and competition has been limited. Zurich’s financial strength and exclusive focus on intermediaries and advice-led insurance means we are ideally placed to support the broker personal lines insurance market.”
“For Zurich, it’s aligned to our ambition to grow our footprint in a way that complements the strong trading relationships we have with our broker partners,” Nanra added. “We’re delighted about our partnership with Blue Zebra and excited about what this means for our key broker partners.”
Blair Nicholls, Blue Zebra CEO, said: “The insurance industry has been talking about change for years. Blue Zebra is actually delivering this through an innovative new model that’s supplying insurtech through brokers. Australian consumers need good advice and efficient brokers so they can buy the right insurance and not feel let down by their insurance company. Our broker-only platform will help them do this, with a broad range of personal lines backed by Zurich.”
“Zurich is all about offering insurance through expert brokers,” Nicholls added. “They’re the perfect insurance partner to help us give Australians a great insurance experience.”
Blue Zebra Managing Director, Colin Fagen, said: “Most insurers in Australia have legacy product-based models and systems that have serious limitations when it comes to service. Blue Zebra addresses this gap with a flexible and 100% customer-based model that’s configured specifically to service the changing needs of brokers and their customers, today and tomorrow. That includes a digitally-enabled claims experience that ensure claims are paid quickly, with clear and timely communication to brokers and their customers. This is all enabled through great technology.”
Fast, flexible and streamlined, the Blue Zebra insurance platform leverages external data to make the quote process easy for brokers. In addition, the claims service is digitally enabled, with a clear focus on speeding up the process. The product range across home, motor and landlord insurance has been designed to look after customers’ complex and broad needs and supports advice-led personal lines insurance delivery.
The new offering will be piloted with a small number of brokers initially before a broader rollout, with final launch subject to regulatory and licencing approvals.
Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. With about 54,000 employees, it provides a wide range of property and casualty, and life insurance products and services in more than 210 countries and territories. Zurich’s customers include individuals, small businesses, and mid-sized and large companies, as well as multinational corporations. The Group is headquartered in Zurich, Switzerland, where it was founded in 1872. The holding company, Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information about Zurich is available at www.zurich.com.