Executive Summary: For a multinational insurance company like Zurich Insurance Group, which can find itself delivering large, complex policies in multiple languages to a single international customer, there’s a logical use case for Gen AI’s large language models in providing consistency across markets. But that’s just one of the ways in which the global insurer has deployed $1.8 billion in technology investments to improve customer experience and efficiency. Zurich says it’s using more than 160 AI-powered solutions to help transform the entire insurance value chain.
During a tech roundtable held by Zurich in March, executives described a suite of APIs, Zurich eXchange 2.0, allowing the company to seamlessly scale Gen AI solutions—such as coverage checks, policy comparisons and claims insights—to boost internal efficiencies and to offer services and embedded insurance products externally.
Early adopters of generative artificial intelligence (Gen AI) tools are working hard to employ the technology, which can help insurers innovate, enhance customer experience and boost internal business efficiencies. At the same time, they are carefully containing the potential risks of this new technology.
Tech executives at Zurich Insurance Group described their “digital transformation journey,” which embraces AI and Gen AI tools while putting in place all the necessary safeguards—to protect their customers and themselves.
Ericson Chan, group chief information and digital offic