Develop the largest open innovation competition for startups in the sector.
The Zurich Innovation Championship, organised by Zurich Insurance Group, is returning for its fifth year.
The Zurich Innovation Championship, hailed as the largest open innovation competition for companies in the sector, has garnered more than 8,000 submissions since its inception in 2018. Over 50 startup collaborations are currently in progress as a direct outcome of the global programme.
“Expanding upon the achievements of the initial four editions, which have resulted in more than 50 ongoing partnerships, our programme is continuously developing and increasing its influence,” stated Paolo Mantero, the group’s chief strategy officer, in a press statement. “This intensifies my enthusiasm for this year’s edition and the initiatives that will emerge as a consequence.”
The categories for 2024 include business insurance, digital simplicity, life and health, and retail property and casualty. There will be a total of 10 winners chosen.
Startups and scaleups at any level of development are eligible to apply until February 14. The winners of the global round will be announced in May, and the Innovation Demo Day will take place in September.
Zurich stated that each of the chosen businesses will undergo a 12-week programme during the acceleration phase. The purpose of this programme is to develop and validate the hypothesis established for the global finals by assessing its acceptability, feasibility, and viability.
“This will occur through a strong partnership with the Zurich business unit that has selected the startup.” Unlike a conventional accelerator, this phase will also prioritise expediting the implementation across Zurich Business globally.
Ericson Chan, the group’s chief information and digital officer at Zurich, asserts that they are reshaping the insurance industry during a time of intense innovation by collaborating with leading innovators and entrepreneurs.
