Zurich | January 07, 2022
Zurich Resilience Solutions ("ZRS") in North America today announced it is launching a groundbreaking offering called the Workplace Diversity, Equity and Inclusion ("DEI") Service in collaboration with Inclusion Score, a leading organization that advised on a new global diversity and inclusion standard issued by the International Organization for Standardization (ISO) in May 2021. Developed at the request of customers and brokers, Zurich's service will help businesses strategically assess DEI in their organization and work toward the ISO standard and their unique DEI goals.
With today's announcement, Zurich becomes one of the first insurance providers to offer a DEI assessment and consulting service. Using the new ISO standard as a benchmark, ZRS will work with customers to incorporate DEI into every layer of their organizations, including in governance, human resources, product delivery and supply chain. The collaboration with Inclusion Score uniquely positions ZRS to help companies take meaningful, measurable action to enhance equity, fairness and accessibility in their organizations.
"Insufficient attention to diversity and inclusion has become a business risk that can have a direct impact both on an organization's financial performance and its workforce, Recoveries in discrimination lawsuits are at all-time highs, and shareholder derivative lawsuits based on D&I are growing. Corporations need guidance when it comes to assessing and enhancing their DEI practices and policies, training their teams to address concerns and insuring themselves from business risks."
-Thomas Fioretti, Head of Zurich Resilience Solutions in North America.
Zurich's DEI service is designed to be customizable to a wide range of industries and organizations of all sizes, helping them comply with the new global standard 30415 from the ISO and providing guidance on D&I principles, practices and methods to enable and support equity, fairness and accessibility for people of all backgrounds in the workplace.
ZRS' program features a multi-tiered approach aimed at ensuring holistic analysis and long-term success. It includes:
Assessment and reporting: Measuring where organizations are succeeding in DEI as well as falling short, ZRS will offer customers a Capability Maturity Model Integration Score that assesses their organization's DEI maturity along with an improvement roadmap focused on critical areas of need in their business.
Consulting: Once the roadmap is set, ZRS Risk Engineers will work with customers to customize recommendations for their unique business challenges and provide ongoing consultation to ensure measures are implemented in accordance with benchmarks.
Services and training: With the infrastructure in place, ZRS will assist customers in communicating DEI principles throughout all levels of the organization and follow up with appropriate training to ensure objectives are understood and put into action.
Taking Zurich's Risk Engineering services to the next level, Zurich Insurance Group created ZRS last year as a global business unit to enable the expansion of holistic, innovative solutions in a rapidly changing risk landscape. ZRS provides specialized insights and tools above and beyond insurance to help businesses address and build resilience to evolving risks.
"Businesses of all sizes are increasingly being asked not only about their DEI beliefs but also to demonstrate their practices and progress as a prerequisite for winning new and renewal business from customers, for securing insurance protection and for recruiting and retaining top talent, Our new solution will help companies fortify and measure their DEI practices and integrate the principles of diversity, equity and inclusion through their entire organization."
-Julia Oltmanns, Director of DEI Services for Zurich Resilience Solutions.
ZRS' relationship with Inclusion Score will give customers access to some of the world's leading experts on diversity, equity and inclusion and increase the scope of solutions ZRS is able to provide.
Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. With approximately 55,000 employees, it provides a wide range of property, casualty and life insurance products and services in more than 215 countries and territories. Zurich's customers include individuals, small businesses, and mid-sized and large companies, as well as multinational corporations. The Group is headquartered in Zurich, Switzerland, where it was founded in 1872. The holding company, Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX.
Cision PR Newswire | September 04, 2020
FastTrack, a leading provider of insurtech solutions for the Life & Disability insurance industry, announced today the completion of their migration to a cloud-computing platform. The project resulted in a transition to Microsoft Azure for their entire suite of solutions and was completed without any service disruption to its customers. Leveraging the hosting platform's ability to handle the multiple coding languages employed by FastTrack demonstrates their continued dedication to using all resources at their disposal to create a flexible, easy-to-use platform for their client base without compromising on security. The new model also allows for a system that will seamlessly scale computing needs to match the growth of FastTrack, who has seen a 60% increase in insurance claims under management over the last 12 months.
Westfield | December 30, 2021
Wright National Flood Insurance Company, the nation's leading provider of federal flood insurance, has announced an agreement to acquire the flood insurance policy book from Westfield Insurance Company ("Westfield").
Wright Flood will service, administer and issue flood coverage under the National Flood Insurance Program for Westfield policyholders and agents. Additionally, Wright will also assume the servicing of Westfield's private flood business.
Wright Flood has more than 40 years of experience exclusively in the flood insurance industry. It is widely recognized for its experience, claims response and long-standing commitment to partner with agents and policyholders, especially at the time of a flood loss. Wright Flood takes pride in user-friendly technology, exceptional claims reputation and providing service clients deserve.
Patricia Templeton-Jones, the president of Wright National Flood Insurance Services, said she is excited about the partnership with Westfield agents.
"Westfield has provided flood coverage solutions for the past 20 years for its agent partners and policyholders. We look forward to continuing their long history and providing their agents with our experience in the flood insurance industry, Since the inception of the National Flood Insurance Program, Wright Flood has been a premier provider of NFIP flood coverage and private flood options for homeowners and business owners."
"Wright has a well-established reputation of providing excellent service to customers and agents, especially at the time of a flood loss. We are confident customers will continue appreciating the peace of mind that comes with having flood coverage,"
- Craig Welsh, Westfield's chief distribution officer.
Beginning in early 2022, Wright Flood will manage Westfield's NFIP flood placements. All new policies and renewals will be issued by Wright National Flood Insurance Company, which is A.M. Best rated as A- (Excellent) for financial strength. For retail agents accessing flood coverage through Westfield, there will be minimal change in the process to continue to provide NFIP flood insurance coverage for policyholders. Wright and Westfield representatives together will be in contact with their agents.
About Wright National Flood Insurance Company
Wright National Flood Insurance Company, the largest flood insurance provider in the nation, offers federal, excess and private flood insurance with leading industry expertise, rated A- (Excellent) by A.M. Best. Wright Flood takes pride in user-friendly technology, exceptional claims reputation and providing service clients deserve.
Westfield was founded in 1848 by a small group of hard-working farmers who believed in the promise of the future and the power of the individual. Today, as one of the nation's leading property and casualty (P&C) companies, we remain true to their vision and are dedicated to making a positive difference in our customers' lives.