Zurich Insurance Group, a global commercial insurer supporting multinational businesses, has launched Zurich Program IQ, a new AI-powered tool aimed at improving contract certainty across multinational insurance programs.
The new product has been introduced to address the increasing complexity of multinational insurance arrangements, which often span multiple jurisdictions, languages, and currencies.
Zurich Program IQ is developed in-house and used by Zurich’s underwriting experts to analyse sublimits within multinational policies. The tool highlights discrepancies between local policies and the master policy, allowing issues to be identified early and corrected before they impact coverage or operational efficiency.
At launch, the tool focuses on property natural catastrophe coverage within multinational insurance programs and is capable of processing policies written in multiple languages. Zurich plans to expand the tool’s capabilities to cover additional lines of business over time.
Zurich’s multinational network spans more than 200 countries and territories and supports over 7,500 customers through approximately 8,500 insurance programs worldwide.
Zurich Insurance Group CEO Commercial Insurance Sierra Signorelli said, “Multinational insurance programs can be extremely complex, and our customers trust we deliver clarity and consistency across all their markets. Zurich Program IQ is a major step forward allowing us to review thousands of pages of policy wording across the globe to give customers even greater confidence in the coherence of their global insurance programs”
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