A clear strategy developed by us, for all our stakeholders
Our strategy positions Zurich for success over the long term. It builds on our unique footprint, solid financial position, balanced portfolio trusted brand and the skills, strengths and expertise of our people. And, it draws on our purpose and values. These clearly articulate why we are in business and how we set out to achieve our goals, always putting those who depend on us in the center.
A solid financial position
We are rated AA–/positive by Standard & Poor’s. Our solid financial position can reassure our customers that we will be there when they need us to handle their claims and our shareholders that we are financially stable. It also gives us a well-earned positive reputation as a business and employer, and positions us to invest in future growth.
A balanced business
Our business is balanced geographically, and by products and customer segments. Our strong retail and commercial franchise and flexible operating model position us well to weather economic and market volatility, and to take advantage of industry change.
A trusted brand, talented people
Our understanding of the risks our customers face and ability to structure offerings that meet their needs reinforce our global brand, one of the most valuable in the insurance industry. Our strong reputation allows us to attract the best talent worldwide.
Our long-term strategy
Focus on customers
Our transformation to become a truly customer-led company is well underway and we have established a platform from which to evolve and grow.
We have successfully simplified our business and operations, to make better use of our resources.
We are adapting to make sure we continue to meet and exceed customers’ expectations and needs.
Financial targets 2017 - 2019
Net cash remittances
by 2019 compared with 2015 baseline
How we delivered on our 2017 - 2019 targets
We improved our business mix, reduced volatility and improved profitability of our Property & Casualty portfolios while further growing our Life franchise through targeted acquisitions. We entered new and innovative markets and succeeded in reducing expenses. Our management structure has been strengthened and reinforced. And customer and employee satisfaction has improved. Farmers Exchanges has transformed its agents force and expanded its solutions for millennials.
Financial targets 2020 - 2022
We see opportunities to grow the business. We know which type of growth we want to achieve. We will remain cost-driven and continue to simplify the organization. We aim to improve portfolio quality and make better use of capital. To sharpen our focus on customers, we are also adding two new KPIs.
Our business model works to deliver benefits for our stakeholders
Our employees are helping our retail and commercial customers to understand and protect themselves from risk.
Serve customers and distribute through multiple channels
Our products and solutions are available to customers with a focus on great customer service, through many channels: directly, or indirectly via brokers, through employee benefits consultants, and in cooperation with third parties including banks, travel providers, retailers, rental agreements and car dealerships.
Underwrite and manage risk
Insuring and managing risk is central to what we do. Understanding, measuring and modeling risks helps us to price risk fairly and offer competitive premiums to customers, who also look to us to provide expertise aimed at mitigating risks.
Our Group-wide policy, the ‘Zurich Way of Reserving,’ with well-defined and prudent standards, is the basis for how we calculate insurance liabilities. Our reserving process is supported by strong governance, including extensive internal and external reviews.
Invest and deliver returns
Our income includes returns from invested premiums, policy fees and deposits. Our success as a business is important to those who depend on us to reliably pay claims, as well as investors who look to us to deliver savings returns and operate our business responsibly.
In 2019, we paid out more than USD 24 billion in claims. To ensure that we provide a positive experience to customers who do business with us, we are systematically listening to customers through our Net Promoter System (NPS), not only as part of our claims process but throughout all customer touchpoints.
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