Zurich Insurance may be cutting as many as 200 jobs at its Switzerland headquarters to streamline its finance department.
While a Swiss finance website reported that 200 jobs could be eliminated, a Zurich spokesperson said that no figures had yet been announced and that it was too early to say how many employees might be eliminated, according to a Nasdaq report.
Search and compare insurance product listings for Employers Liability from specialty market providers here
The cuts could push Zurich toward its cost-cutting goals. In November, Zurich CEO Mario Greco announced that he wanted the company to generate net savings of US$1.5 billion over 2015’s levels by 2019.
Other cost-cutting measures include introducing artificial intelligence into claims decisions. Zurich Chairman Tom de Swaan told Reuters in July that introducing AI into the process saved the insurer 40,000 work hours.
Related stories:
Zurich names industry vet to Melbourne team
Former Zurich broking boss reveals two new roles
.jpg)
