Zurich has joined forces with insurtech underwriting start-up Blue Zebra to offer a digitally-enabled end-to-end personal-lines insurance platform to brokers.
The deal comes after both parties identified an opportunity for personal service and advice to reassert its place in the Australian personal-lines insurance market, Zurich said in a statement.
“A significant proportion of Australian consumers need advice on their personal insurance needs, but to date, choice and competition has been limited,” said Raj Nanra, general insurance CEO for Zurich Australia and New Zealand.
“The insurance industry has been talking about change for years,” said Blue Zebra CEO Blair Nicholls. “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.”
Colin Fagen, Blue Zebra managing director, said that “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.” he said. “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.”
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 named as one of America's best employers for diversity
Zurich welcomes new strategic investment partner