Berlin-based insurtech a winner in Zurich innovation competition
Berlin-based insurtech a winner in Zurich innovation competition | Insurance Business America
Technology
Berlin-based insurtech a winner in Zurich innovation competition
Competition aims to identify the most innovative startups
Technology
By
Steven Byerley
Berlin-based company omni:us has emerged as a global winner in the 2023 Zurich Innovation Championship for its Digital Claims Adjuster platform.
The championship, part of Zurich Insurance Group’s startup program, aims to identify the most innovative startups and collaborate with them on solutions for the insurance industry.
This year, a record-breaking 3,500 startups participated in the competition, and omni:us was selected as one of the 13 winners.
As a result, omni:us will join the other winners in a four-month accelerator program organized by Zurich. During this program, they will have the opportunity to test the viability of their initiatives and receive financial and non-financial support. The support includes coaching from Zurich executives, as well as advice from internal and external experts on various topics.
“We are honored that Zurich has recognized the immense benefits that our AI-powered end-to-end claim automation solution, the Digital Claims Adjuster, can provide to insurance companies and their customers,” said Thomas Hauschild (pictured above), CEO of omni:us. “Zurich also acknowledged the scalability of our technology, and we are excited to work closely with the Zurich team this year to showcase the value we can bring to their customers.”
The Digital Claims Adjuster platform integrates end-to-end claims automation into existing insurance systems. The platform not only reduces process costs by up to 35% but also significantly enhances customer satisfaction and operational efficiency, omni:us said.
Ericson Chan, Zurich group chief information and digital officer, emphasized the importance of collaborating with startups.
“Through collaborating with startups, we continue to source the bold and forward-thinking ideas that are needed to create a real impact for our customers,” Chan said. “With this year’s winning initiatives, we continue to push the boundaries of today’s insurance.”
“In recent years, the insurtech market has bloomed, and we see many opportunities to leverage those new ideas and technologies and embed them in the way we work,” said Paolo Mantero, Zurich group chief strategy officer. “These initiatives tackle important areas where we believe embracing transformation is crucial for the future of insurance.”
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