Through the new unit, Zurich Insurance will try to address the fast changing needs of consumers


Zurich Insurance creates new global unit that will focus on digital services. (Credit: Zurich)

Zurich Insurance Group said that it has launched a new unit called ‘Global Business Platforms’, which will focus on digital services with an aim to boost the transformation of its global business.

Through the new unit, the Swiss insurance group will try to address the fast changing needs of consumers.

The Global Business Platforms unit is expected to expand the insurer’s digital services across the world besides creating a closer connection with its customers and partners.

Zurich Insurance said that the new unit will be led by Jack Howell, the group’s present APAC CEO. Howell, in the last four years, is said to have helped in the APAC unit’s business expansion and transformation besides advancing group innovation by focusing on customer requirements.

The Swiss insurance group is roping in Ericson Chan, the current CEO of Ping An Technology, as its chief information and digital officer. Chan will be leading the planning, development, and operation of the technology functions and online ecosystems, said the insurer.

Zurich Insurance Group CEO comments on the new unit

Zurich Insurance Group CEO Mario Greco said: “This is a groundbreaking step in reaching our goal of becoming our customers’ preferred insurer. As lifestyles change globally, consumers seek personalized, convenient and transparent interactions.

“Zurich continues to launch innovative offerings to meet the demands of our customers and partners for a fully digital and streamlined experience.

“Beyond the younger generations who have long valued the convenience of online services, demand has broadened significantly in recent months throughout our customer base.”

The insurance group has also created a new role of group chief transformation officer for helping in executing a successful group-wide transformation. For this, Kathleen Savio, who is presently the group’s North America unit’s CEO, has been appointed.

Earlier this month, Zurich Insurance reported a 42% drop in its net income attributable to shareholders at $1.18bn for the first six months of 2020 compared to $2bn generated in the same period in 2019.