At a glance
- Improved portal enables customers to oversee all of their international insurance and risk management programmes in one place
- Powerful tool pulls all of the information into a single data source that can be easily analysed
- Brokers may also be given access to the My Zurich online platform
The launch of the new version of My Zurich makes it easier for corporate clients and their brokers to manage international insurance and risk engineering programmes.
My Zurich is a portal that provides access to information about a corporate client’s international insurance and risk management programme. Corporate clients are free to give their brokers access to the platform, and invariably they do, due to the tool’s powerful capabilities in managing and improving risk performance.
But just what makes this new version of My Zurich different to its predecessor and why is it so effective?
The first version of My Zurich was launched in January 2012. This online platform gave policyholders access to information surrounding their insurance and risk engineering programmes mostly in spreadsheet format.
Welcome as this was, it still meant wading through different spreadsheets to find particular pieces of information. The latest version of My Zurich pulls all of these spreadsheets into a single data source that can be searched and analysed at will. The result is an easy-to-use interface that presents information in a dashboard format online.
On the insurance side, it provides all of the information on every line of business that makes up a corporate customer’s international programme.
Data refreshed every 15 minutes
Have policies been issued and premiums paid? What is the status of programme implementation in individual territories? Which claims are linked to which policies and have they been settled? These are just some of the questions that can be answered quickly and simply using My Zurich.
Data comes directly from Zurich’s various internal systems such as the “International Program System” or the “Global Risk Engineering Workstation,” and My Zurich is refreshed every 15 minutes.
In practice, that makes it possible for risk managers sitting in London, Paris or Dubai, for example, to view the full details of a claim registered in Australia within minutes.
Managers can analyse claims using various metrics, including country, frequency and severity. This allows them to make powerful comparisons between the performance in different territories and to pinpoint what sort of risk management activity would help improve their overall risk profile.
In addition to the insurance information available, My Zurich holds all of a client’s risk engineering data and can, for instance, answer queries on whether a client is up to date on mandatory survey requirements, the risk improvement actions required at individual sites, and whether or not specified improvement actions have been completed within the stipulated timeframes.
My Zurich also lets clients communicate directly with Zurich’s risk engineers. Your clients can ask questions regarding a particular survey or update the status of required actions. This speeds up communication between both parties, making it easier to see exactly what needs to be done and to push for action where needed.
Single view of how a business is performing
The granular level of information available on both the insurance and risk engineering sides of international insurance programmes lets brokers and risk managers get a single view of how a business is performing. It also allows brokers to better target where they can offer their expertise and generate value. This lets them align themselves more closely to their clients and better tailor their proposition to the particular needs of each and every one of them.
The My Zurich platform also provides access to Zurich’s Multinational Insurance Application. This is a database of all of the relevant regulatory and tax requirements in every territory around the world.
Holding this on My Zurich gives brokers and customers fast and convenient access to the latest information and aids their ability to arrange their international programmes in the most effective way.
At the moment, My Zurich is only available to corporate clients with an international insurance or risk engineering programme. However, work is ongoing to expand the availability of the platform.
The functionality of My Zurich is also continually evolving and Zurich aims to make updates every six weeks. For example, at the beginning of September, Zurich added new industry benchmarking information on risk engineering to the platform.
In the coming months, it will introduce improved analytical capabilities, including the ability for clients to build and maintain their own dashboards.
My Zurich will create a single point of entry to all of a client’s data and ensure that all of the relevant stakeholders are working from consistent and complete data sets that are refreshed on a regular basis.