Zurich Financial Services
21 August 2007
Zurich launches new direct insurance offering in Germany
Zurich Financial Services
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Zurich, August 21, 2007 -- Zurich Financial Services Group (Zurich) announces
the launch of its new pan-European direct insurance offering Zurich Connect, in
Germany. As part of the European-wide roll out of Zurich Connect, customers in
Germany can now buy insurance policies easily and direct through the internet on
www.zurichconnect.de.
Germany is the first country to go live with its direct offering on the new
Zurich Connect platform with a product range across the consumer market. German
customers can now select from car, household and private liability insurance
policies, with more products to become available in 2008. Zurich is the first
insurer to introduce a unified pan-European set of products and services on the
web that makes it possible to offer similar products on a European scale. These
products can be tailored to local standards and legal requirements in each
country.
In addition to the products now available in Germany, small businesses customers
in the UK can purchase commercial vehicle insurance through Zurich Connect. More
products have been available to dedicated partners in the UK and in Spain over
recent months. In Switzerland direct market leader Zuritel was rebranded and has
been successfully selling products under the Zurich Connect name since June
2007.
Zurich Connect's value proposition is about building loyalty with European
customers. Having an effective operating model and IT platform enables Zurich
Connect to offer discounts for customer loyalty and positive claims histories.
Furthermore, Zurich Connect will reward customers for the number of insurance
products they buy.
Zurich Connect offers, for the first time, the opportunity for customers to view
their account on-line, seeing exactly what products they have, what their cover
levels are, and to update their details if necessary. They will also be able to
notify new claims online. The customer service provided by Zurich Connect will
also include a modern 24 hour, 7 day a week contact center.
'Our customers will profit from attractive offers and from a transparent premium
system,' said Theo Bouts, Chief Executive Officer of Zurich's Direct Business
and Partnership unit Europe. 'The new solution enables Zurich, as one of the
leading pan-European direct insurers, to achieve significant cost savings and
pass them on to our customers. We will be bringing the Zurich Connect
proposition to further major markets in Europe over the next few years,' Bouts
added.
Direct insurance is offering growth opportunities
With the exponential growth of the direct insurance and partnership business in
many European markets, Zurich is ideally placed to capitalize on growth
opportunities. In countries such as the United Kingdom, Germany, Italy,
Switzerland and Spain, direct insurance, conducted through the internet and
telephone, is well-established alongside the more traditional distribution
channels as it is easily accessible for customers.
Zurich is expecting the European direct business to generate an additional USD 1
billion in gross written premiums and policy fees within the next five years.
This demonstrates the importance of the direct business in contributing to the
profitable growth of the Group and supporting its aspiration to become a top
five insurer globally.
One risk carrier for all EU-countries
All Zurich Connect policies in EU countries will be underwritten by Zurich
Insurance Ireland Limited, based in Dublin. This means that all such policies
would benefit from the EU Non-Life Insurance directives enabling the freedom to
provide services.
Podcast interview with Theo Bouts
A podcast interview with Theo Bouts, CEO Direct Business and Partnership Europe,
will be available in German and English on www.zurich-connect.de/connect/direkt/
unternehmen/mitteilungen.htm from noon.
Zurich Connect is the name for the new pan-European direct insurance proposition
from the Zurich Financial Services Group. In Germany (www.zurich-connect.de) and
Switzerland (www.zurichconnect.ch) Zurich Connect offers customers a range of
personal insurance products. In the UK Zurich Connect (www.zurichconnect.co.uk)
sells commercial vehicle insurance to small businesses. In addition, Zurich
Connect products are offered through dedicated distribution partners in the UK,
in Spain and Switzerland. Zurich Connect will be launched in further major
European markets in which Zurich operates over the next few years. The product
offering for both personal lines and small business customers is gradually being
extended. Zurich Connect's insurance policies in the EU are underwritten by
Zurich Insurance Ireland Limited (ZIIL) from its headquarters in Dublin,
Ireland. ZIIL is an EU-wide risk carrier specializing in offering general
insurance cover for cross-border risks in Europe and is a member of the Zurich
Financial Services Group.
Zurich Financial Services Group (Zurich) is an insurance-based financial
services provider with a global network of subsidiaries and offices in North
America and Europe as well as in Asia Pacific, Latin America and other markets.
Founded in 1872, the Group is headquartered in Zurich, Switzerland. It employs
approximately 58,000 people serving customers in more than 170 countries.
This information is provided by RNS
The company news service from the London Stock Exchange