Schaumburg, Ill. — Zurich North America Commercial announced the creation of a new business focused on providing solutions to meet the needs of commercial insurance customers that fall between the traditional small commercial and middle markets business segments.
"There is a large segment of customers in today's marketplace that can be served better through an improved operating model," says Mike Foley, CEO of Zurich North America Commercial. "These customers either require a broader range of products and services, or have risk characteristics that are not fully served through the 'fast flow' underwriting model in which they are frequently placed."
Zurich sees an opportunity to better serve this segment by leveraging its disciplined transactional underwriting, broad product line and deep industry experience in conjunction with a new, streamlined operating model. By adapting elements of Zurich's traditional middle markets approach to deliver them in a simpler, more efficient manner, Zurich will bring a distinctive market offering for this customer segment, the company says. The new model will emphasize ease of doing business while remaining flexible enough to enable individual risk assessment decisions.
Source: Zurich Financial Services
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