Key functions of Zurich

Product Underwriting

Underwriting is the process of evaluating risk, and it’s therefore up to our underwriters to decide whether a risk is one that we are willing to insure and what we should be charging for it. Underwriting provides essential technical knowledge and expertise that helps us remain profitable.

Market Underwriting

Market underwriters identify and evaluate the risks and exposure levels of potential customers. They decide whether to insure a risk and, if so, for what premium. Our market-facing underwriters define our go-to market strategy and are responsible for quoting to our customers and ultimately closing a deal. By setting limits on our risk exposure, they make sure that the premiums we charge are profitable and correspond to the level of risk.

Our Claims function is critical to ensuring we deliver a first-class service to our customers efficiently, professionally and with empathy. Our claims handlers deal with a whole range of situations, from stolen cars to flood-damaged businesses, and need to be able to work quickly with our customers to provide support at an often-stressful time.

The work of our talented and specialist actuarial team underpins nearly everything we do. From product development to financial management, the team are responsible for a range of strategic decision-making initiatives. We have teams in both our Life Insurance, Family Takaful, General Insurance and General Takaful businesses; spanning both Finance and Underwriting, with exciting opportunities for career development.

Business Change & IT (BC&IT) provides high quality support and expertise to our Life and General Insurance businesses. The team use their expertise to deliver first-class project governance and IT assurance to our Life and General insurance businesses, contributing to future success and growth. BC&IT plays an integral role in driving our businesses’ strategic priorities while also ensuring our systems are secure, stable and simple.

Finance has a wider remit at Zurich than in many organisations as it encompasses Financial Controlling, Risk and Controls and tax. Using their expertise and business insights, our Finance teams help us deliver our financial plans.

Our Life Insurance and Family Takaful business provides customers with protection, investment and savings products under the Zurich brand. The business focuses on two main areas: supplying distributors with competitive products, and managing products we no longer market. The Life Insurance and Family Takaful business aims to be known for delivering value to customers, distributors and shareholders through market leadership positions.

Our Marketing function is a dynamic and creative environment covering a number of areas that focus on delivering high quality communications for our business. Our marketing professionals engage across all parts of the Zurich business and with external partners.

Risk selection, pricing and improvement are fundamental to the success of Zurich. To do this effectively requires specialist expertise and understanding of the industries our customers operate in and the hazards to which they are exposed. Zurich’s in-house Risk Engineering team provide that expertise, which is something that sets us apart in the eyes of our customers.

HR

In any organisation, people are the most effective agents of growth, renewal and inspiration. Making sure that Zurich has the people, the talents and the skills to make it succeed today and tomorrow is the work of Human Resources. The team works with each area of the business to meet its people needs locally, and to ensure a globally consistent approach to sourcing, managing, developing and motivating our people.

Risk, Audit and Compliance

As a general insurer, Zurich is subject to strict financial services regulations. Zurich has established robust systems and controls to ensure it meets its regulatory obligations. It is the responsibility of Risk, Compliance and Group Audit to provide assurance of their effectiveness. The teams perform a wide range of advisory, monitoring and audit activity, working closely with the business, to provide senior management with assurance that the control framework is operating effectively and remains fit for purpose.