North American insurtechs win Zurich's global competition
Zurich Insurance has announced the winners of its Zurich Innovation Championship global finals, with North American companies Claimflo (first) and Jupiter Intelligence taking the podium along with Australia's Pops! Diabetes Care. Jupiter and Pops! tied for second.
The second year of the worldwide competition brings eight regional finalists from four regions (North America, Latin America, Europe/Middle East and Asia Pacific) to Zurich after more than a thousand entries are vetted by Zurich business units in the regions.
Claimflo, developed by New York-based fintech Safekeep, uses AI and machine learnign determine what claims have potential for subrogation or fraud. Jupiter Intelligence provides climate intelligence and catastrophic risk modeling. Pops! is an integrated virtual care system for diabetics.
This is the second year for the competition. Last year's winners were Chisel and Zesty.ai.
"These dynamic companies have what it takes to help augment our innovation capabilities in bringing value-added products and services to our customers," said Sumeet Bhatia, Head of Innovation for Zurich North America. "Claimflo provides ability to modernize claims recovery, automate and simplify workflows and provides greater transparency to customers. Jupiter provides us the opportunity to enhance climate change resilience for customers and communities. We are excited to continue the work we started with them during the competition."
"We chose the podium winners of the Zurich Innovation Championship 2020 because of their entrepreneurial spirit and potential impact they can bring," said Giovanni Giuliani, Group Head of Strategy, Innovation and Business Development, Zurich Insurance Group. "From accelerating our digital transformation and sustainability ambitions, to providing new products and services that exceed our customers' expectations. This is not the end, but the start to generate real impact."