Zurich Launches Global Industry Specialization Program

March 6, 2008

Zurich Financial Services Group has launched a new “Global Industry Specialization Program.” Zurich said its goal is to “better leverage its existing knowledge base and expertise in general insurance and to further expand its risk insights into specific industry sectors. The program aims at improving the way Zurich serves customers and distributors by developing differentiated customer propositions and offering tailored risk management solutions as well as a Zurich point of view on how an individual industry is dealing with its risks.”

Zurich described the initiative as “an integral part of its “Customer and Distribution Management Strategy, which is focused on efforts to make Zurich a more customer centric organization while leveraging its many distribution channels.”

The Program will effectively function as a global practice leadership, enabling leaders from Zurich’s various divisions, functions and geographies to share knowledge and build upon expertise gained from their various experiences.

It’s hoped that in this way they “will develop far-reaching insights on current and future trends that may impact the industry, as well as the capability to quickly respond with people, products and information resources to a changing risk environment anywhere in the world,” said the bulletin.

John Amore, CEO Zurich’s General Insurance segment, noted the Program is a “further example of how Zurich’s operational transformation efforts will position us as more customer focused and as an even better problem-solver for our customers in specific industry sectors. Providing customers with the value of Zurich’s risk insights and understanding of the industry sectors we do business in will enable Zurich to retain existing customers and expand into further attractive markets for continued profitable growth.”

As part of the Global Industry Specialization Program, Zurich has created a global industry framework leading off with the following three sectors – Construction, Real Estate and Automotive, with plans to add other sectors over time.

The first appointments made by Zurich under the Program include the following:
— Terry Gray (US citizen), as Global Industry Leader for the Construction Industry,
— Richard Elliott (British citizen) as Global Industry Leader for the Real Estate Industry, and
— Joerg Waelder (German citizen) as Global Industry Leader for the Automotive Industry.

The three have “over 70 years experience in the insurance industry and bring a network of highly specialized individuals to the Global Industry Specialization Program,” Zurich noted.

They will report to Rocco Maggiotto, Executive Vice President and Head of Zurich’s Global Customer and Distribution Management function for General Insurance.

Source: Zurich- www.zurich.com

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