Schaumburg, Ill., September 13, 2007 – Zurich, one of the world’s largest property-casualty insurance companies, is streamlining the operations of its Commercial Markets business unit to harness its multiple strengths, giving middle market customers and producers in North America better access to its comprehensive risk management products and services. Zurich’s goal is to enhance its customer focus in this market segment.
“We are making a number of important operational and organizational changes to make us even more flexible and responsive to the needs of our distributors and customers,” said Steve Rand, head of Zurich’s Commercial Markets unit. “These changes support our development of new vertical markets, as evidenced by the recent introduction of our technology product for middle market technology firms.”
Rand said that a major change occurred with the alignment of Zurich North America Commercial’s Canada, Construction, Middle Market Commercial, Environmental, Energy, Financial Enterprises and Group Captives / Segment Solutions businesses into one unit. Leaders of these businesses now report directly to Rand.
“This new structure makes perfect sense given Zurich’s goal of providing the marketplace a consistent, high-quality and easy-to-use business experience,” said Rand. “We currently have market leaders in a number of critical and complex industry segments, such as construction, group captives and environmental. It’s our goal to be a market leader in chosen commercial market segments.”
Rand said two other key changes were the creation of new chief operating officer (COO) and chief underwriting officer positions. Robert Lindemann recently was named COO and Frank Mike-Mayer was named to the underwriting post. Rand said the creation of the positions strengthened Zurich’s consistency in its execution, processes and tools.
“This enhances our ability to focus on our customer needs,” Rand said. “Additionally, the realignment of our line of business capabilities strengthens collaboration among the businesses and reinforces our strategic focus. This enables us to deliver more of what our customers and producers really value – a broad range of products and services to suit their specific and ever-changing risk management needs.”
About Zurich Financial Services
Zurich Financial Services Group (Zurich) is an insurance-based financial services provider with a global network of subsidiaries and offices in North America and Europe as well as in Asia Pacific, Latin America and other markets. Founded in 1872, the Group is headquartered in Zurich, Switzerland. It employs approximately 58,000 people serving customers in more than 170 countries. www.zurichna.comTags: Capgemini, Efma, InsurTech, World Insurance Report