Zurich partners with insurtech Snapsheet in claims innovation strategy

Zurich Insurance Group has partnered with Chicago-based Snapsheet, a provider of virtual claims technology for the personal and commercial insurance marketplace.

The strategic collaboration aims to expand Snapsheet's digital services platform to international businesses, and enhance Zurich's customer claims experience. The new services will be available to Zurich customers in Ireland first, with plans to expand to additional countries across the insurer's operations in Europe, Latin America and Asia Pacific.

"The collaboration with Snapsheet will allow Zurich to further streamline the claims journey for our customers and provide additional innovative services," said Ian Thompson, Zurich's group chief claims Officer. "Our customers will have additional options to report claims and communicate with Zurich to speed up and simplify the claims experience.

"As we build a culture of innovation and greater agility into our business, we are very excited to enter into this strategic relationship with an insurtech that is paving the way for new innovation in the insurance industry."

Snapsheet's software as a service (SaaS) platform allows intake of information from various customer channels, enabling insurance carriers to better engage customers and process claims more quickly, according to the company. It also enables them to directly deposit payments into customers' bank accounts, easing the claims process. The software covers auto, property and injury for personal and commercial claims.

"Snapsheet has already processed more than $2.5B worth of claims in the U.S. through our software platform,” said CJ Przybyl, co-founder of Snapsheet. “We continually leverage our own claims data to provide real-time R&D that enhances the functionality and automation of our claims processing software."

"Zurich recognized the tremendous value to be gained from the Snapsheet suite of software across multiple lines of their P&C business. Our ability to capture claims information from any medium, coupled with pro-active workflows, will help augment Zurich's existing systems – ultimately providing a higher level of service for their customers."

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