Zurich Innovation Championship's 4th edition open for submissions
Launched by the Zurich Insurance Group, it is a yearly competition for startups and entrepreneurs in the insurance sector.
Zurich Insurance Group has launched the fourth edition of the Zurich Innovation Championship, a yearly competition for startups and entrepreneurs in the insurance sector.
The competition is aimed at providing a platform for regional entrepreneurs across industries and encouraging collaboration on solutions that cater to the needs of customers and the insurance segment, said a report published on Zawya.
With this, participants can grow their startups, pitch tech-driven solutions, and actualise socially-driven ideas, highlighted Mufazzal Kajiji, CEO of Zurich International Life.
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In a bid to encourage innovation from the larger Middle East region, a significant focus is being laid on startup participation from Qatar and Bahrain.
Those interested can apply in either of the five categories out of customer experience, distribution partnerships, commercial insurance, sustainability, and digital enablement.
Customer experience focuses on providing customers with sophisticated and customised solutions and experiences, commercial insurance is based on delivering innovative insurance solutions and risk services, and distribution partnership is focused on elevating collaborations and attracting novel distribution partners to meet evolving customer needs.
Digital enablement is circled around the use of tech in achieving significant prowess and underpinning appropriate customer and employee experience and sustainability is focused on facilitating environmental, social and economical sustainability.
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Since the launch of the first edition in 2018, the competition has witnessed over 4,500 submissions. The first three editions have resulted in 30 ongoing collaborations across the globe, said the report.
Startups can sign up until February 27, 2023, on Zurich's official website. The local winners will be announced on March 24, 2023; and the global winners will be announced on April 30, 2023. The demo day is scheduled for September.
About two to three winning initiatives per category will be picked by ten individuals from Zurich's global leadership team by end-April. Subsequently, those who make it through the accelerator phase will receive mentorship and funds of up to $100,000.
Additionally, the companies that make it to the accelerator programme can receive up to $120,000 worth of credits for Microsoft Azure or AWS services.
Headquartered in Zurich, Switzerland, Zurich Insurance Group (Zurich) is a multi-line insurer active across 210 countries globally.
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Edited by Megha Reddy
