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The Zurich Way
The Zurich way

The Zurich Way aspires to create a common language, methodologies, metrics and toolboxes for the core processes within Zurich. It transforms the way Zurich is doing business every day and helps to provide better services to customers in a consistent and recognisably one Zurich Way.

The Zurich Way processes have been designed and developed by experienced internal practitioners and represent best practice solutions.

Where we started
During his first year in charge and after having visited several local business units, Group CEO James J Schiro became aware that there was no common way of doing business throughout the organisation. He therefore launched The Zurich Way in 2004, after having first stabilised the Group by divesting non-core businesses and strengthening its capital base.

Since its start, The Zurich Way has helped to improve Zurich’s core skills and to achieve operational excellence. These sustainable operational improvements have laid the foundation for profitable growth.

Business processes
The Zurich Way processes have been designed and rolled out group-wide for an insurer’s core business activities such as underwriting, claims, sales, distribution, product management and reinsurance. These are completed by the implementation of a Zurich Way of Finance, of Human Resources and of Compliance.

Profitable growth – Zurich’s top strategic priority
In order to make profitable growth a top priority across the Group, the organisation has been aligned and the front lines are energised for growth opportunities. The position of Chief Growth Officer and that of the Growth Council have been established to increase the growth momentum.

Growth is achieved through four global growth work streams as well as through specific regional or local initiatives by the business areas. These work streams are managed globally through an established network, applying a consistent global framework, implemented by local roll-out teams.

Achievements
Since starting The Zurich Way journey, hundreds of process improvements have been made delivering quantifiable, sustainable operational improvements of more than US$3 billion after tax until the end of 2007. Further benefits of US$2.4 billion after tax are expected to come from over 400 improvement initiatives over the next three years. Only a minor part (about 12% in 2007) of these benefits stem from the reduction of operating expenses.

What gets measured gets done
The Zurich Way does not only deliver quantifiable benefits; it encourages people to share their knowledge and best practices throughout the organisation and to continually build their skills. This leads to an immeasurably valuable global exchange of ideas to achieve:

 
  • product excellence (eg the introduction of award-winning Irish life products in the German market);
  • customer excellence (consistently high-quality service, eg transferring the idea of Swiss HelpPoint to farmers in the US); and
  • distribution excellence (eg transferring best sales practice and exchanging best performing agents between European countries).

  • What gets measured gets done Performance measurement
    What gets measured gets done! That is why all The Zurich Way initiatives are closely and rigorously monitored. To ensure sustainability, the global implementation status and benefits captured from the initiatives are assessed monthly via The Zurich Way “War Room” to always have a full picture of how improvements are being implemented group-wide, the benefits achieved as a result, the quality of The Zurich Way execution against its aspirations and in comparison to competitors’ efforts.




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