Zurich launches new AI lab to transform insurance industry

Zurich announced the launch of a new artificial intelligence (AI) lab to transform the future of the insurance industry.

The Zurich AI Lab will tap into some of Europe’s brightest minds by working in collaboration with the Institute of Management & Strategy at the University of St. Gallen and ETH Zurich’s Agentic Systems Lab in a joint initiative based out of St. Gallen, Zurich, and Singapore.

At the core of this initiative lies a bold but straightforward belief that AI is not merely a tool for greater efficiency, it’s a catalyst for reinventing the very business model of insurance, according to the announcement. 

Zurich’s new AI lab aims to be where that vision takes shape. By uniting world-class academic research, Zurich’s deep industry and technology expertise, and a strong commitment to responsible innovation, the lab will accelerate the creation of scalable AI solutions that tackle real-world insurance challenges. In doing so, it aims to redefine what customers can expect from their insurer, turning AI’s promise into tangible value.

Earlier this month, Zurich Insurance appointed two new AI leaders to accelerate its digital transformation.

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Combining AI research with business leadership to transform insurance

A multidisciplinary team of PhD and master’s students will lead research efforts at the lab, which will be spearheaded by group CEO Mario Greco. The students will be guided by senior leaders from Zurich and professors from the University of St. Gallen and ETH Zurich.

In addition to Greco, key executive sponsors include group chief information and digital officer Ericson Chan and group chief transformation officer Carlos Rey de Vicente as well as Prof. Dr. Karolin Frankenberger from University of St. Gallen and Prof. Dr. Elgar Fleisch from ETH Zurich.

The Zurich AI Lab will provide academic freedom for University of St. Gallen and ETH Zurich, while accelerating Zurich’s innovation drive to develop and adopt new AI solutions, stated a press release. The Zurich AI Lab will also publish academic papers on the transformative impact of AI on insurance, strategy and business models, using data and insights gained from its research.

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Revolutionizing Zurich’s business model and pioneering next-gen insurance

“AI has proven its significant value by enabling us to better serve our customers, reduce response time, and deliver more accurate risk information,” said Greco. “The Zurich AI Lab is our moonshot factory, bringing together market-leading business and technology expertise and cutting-edge research with one clear goal: to revolutionize our business model and pioneer the next generation of insurance solutions.”

AI will radically transform the business model of the insurance industry, added Frankenberger. “Building on our deep expertise and cutting-edge research in business model innovation and incumbent disruption at the University of St. Gallen, we are excited to collaborate with Zurich, driving transformation, advancing new research, and contributing to society through impactful knowledge, innovation, and partnerships.”

The latest developments in agentic AI challenge us to rethink not only how we solve complex problems, but also how we organize and build the solutions themselves, commented Fleisch. “ETH Zurich students are at the forefront of this new wave, turning ideas into impactful real-world AI applications. This lab creates the bridge between this talent and a leading business to build what’s next.”

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