Zurich Insurance Group has launched Zurich Program IQ to help
multinational businesses operate with confidence in an i
ncreasingly complex risk environment. This new AI-powered tool has
been designed to further enhance contract certainty of multinat
ional insurance programs across multiple regions, jurisdictions, lang
ages and currencies.
“Multinational insurance programs can be extremely comple
x, and our customers trust we deliver clarity and consistency across a
ll their markets,” said Sierra Signorelli, CEO Commercial Insurance, in a statement. “Zurich Program IQ is a m
ajor step forward allowing us to review thousands of pages of policy w
ording across the globe to give customers even greater confide
nce in the coherence of their global insurance prog
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rams”
Developed in-house and used by Zurich’s underwriting expe
rts, the tool analyzes sublimits within multinational policies, h
ighlighting discrepancies between local policies and the mast
er policy.
Zurich notes that these inconsistencies can expose businesses
to unforeseen risks, create coverage gaps, and reduce operational
efficiency. Early identification of these issues allows for swift c
orrective measures and helps ensure customers have the expected
insurance coverage.
The tool curren
tly analyzes property natural catastrophe coverage within m
ultinational insurance programs, efficiently processing polic
ies in multiple languages, and will be expanded to additional areas in the future, Zurich said.