Insurance Times Awards 2022: Zurich wants ‘to become the most agile insurer in the UK’

Explain briefly about your entry in the Excellence in ETrading category.

We’ve transformed our eTrading capabilities, making it easier for brokers to interact and trade with us. We have focused on optimising our trading platform, reducing unnecessary referrals, increasing our responsiveness and intervening where it really adds value for our brokers.   

What do you think makes your entry stand out or different from your competition?

Our digital trading model enables instant visibility of all SME quotes - whether delivered through a software house or our extranet, Zurich Online. This ensures that our empowered underwriters are able to see every SME quote in real-time – even quotes that are self-served.

With our telephony enhancements, we can deal with outbound calls within 20 minutes if they are focused on the risks that are within our target appetite. This delivers a 50% improvement in conversion rates and enables us to support brokers to win and retain clients.

Fast referrals, local expertise and multiple contact points have all led to positive feedback.

For example, 99% of our SME new business is now eTraded and our Transactional Net Promoter Score – a measure of satisfaction among brokers - has improved year-on-year since 2019, from +26 to +67 for the year to date in 2022.

What would winning this award mean to you and your firm?

We’re working hard to become the most agile insurer in the UK, with a customer focus at the centre of our business. This award would recognise the progress we’re making towards that ambition.