Schaumburg, Ill.-based Zurich North America Commercial announced today that its new Zurich Integrated Products unit is accepting new business submissions from agents and brokers in several Midwestern states for commercial customers in the small-to-middle market segments.
Zurich launched this new unit to fill a commercial insurance need for businesses generating between $5 million and $25 million in annual revenues, the company statement said. Submissions are now being accepted for new business policies effective Oct. 1 from distributors in Zurich’s North Central region — Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Nebraska, North Dakota, South Dakota and Wisconsin.
The new unit offers a core package of auto, general liability, property, workers’ compensation and umbrella, with the ability to integrate specialty lines such as directors & officers, employment practices liability insurance, crime and fiduciary. This integrated product offering, combined with a newly developed operating model, will help Zurich’s distributors better respond to customers in this growing segment while keeping transactional costs in line. Through Zurich Integrated Products, customers now have access to a broader range of products and services and a streamlined, easy-to-administer program appropriate for companies that typically do not have staff dedicated to risk management.
“We asked distributors how we could best serve them in this segment, and they were clear that overall, the large, leading carriers had not developed the right operating model and product offerings for these customers,” said Zurich North America Commercial CEO Mike Foley. “Our offering is particularly compelling to the market because it addresses the needs of this traditionally underserved customer group while allowing distributors to administer this business more efficiently. Zurich Integrated Products is a direct result of Zurich’s global efforts to enhance customer-centricity and operational efficiency.”
Zurich Integrated Products’ offerings will enable distributors to target companies in the manufacturing, artisan contractors, finance, retail, wholesale and services industries that fall between the traditional definitions of “small” and “middle market.”
“There were many elements that had to come together in order to launch an operation that could effectively meet the needs of customers of this size in a wide variety of industry segments,” said Vincent Tizzio, president of Zurich Integrated Products. “Chief among them was making it easy for agents and brokers to do business with us and keeping their costs in-line while creating responsive solutions for customers. This focus will enable us to support these customers as they move from transactional-based insurance decision making to more sophisticated products and services that meet their evolving needs.”
Zurich said its disciplined transactional underwriting, broad range of standard property, casualty and specialty lines, deep industry experience and full complement of customer services – including a wide range of leading claims capabilities – uniquely position the insurer to serve this important customer segment.
In the first quarter of 2009, Zurich is scheduled to begin writing renewal business in the North Central region. Following this region’s launch, other regions will follow on a rolling schedule until nationwide operations are in place in the third quarter of 2009.
Source: Zurich North America Commercial
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