Zurich to revolutionise insurance business model with newly launched AI Lab

Zurich Insurance Group, in collaboration with the University of St. Gallen, is reimagining the future of insurance with its newly launched artificial intelligence (AI) Lab, Zurich AI Lab, aimed to accelerate industry transformation.

Led by Group CEO Mario Greco, this ambitious move “signals a new era” in the delivery and customer experience of insurance, the firm stated.

“At the heart of this initiative is a simple but powerful idea: artificial intelligence isn’t just a tool to improve efficiency; it’s a force capable of transforming the very business model of insurance. AI has the potential to create new customer experiences that are faster, smarter, and more personal than ever before,” a Zurich spokesperson highlighted.

Adding: “Zurich’s new AI Lab will help bring that vision to life, by combining world-class academic research capabilities, Zurich’s deep industry and technology expertise, and a commitment to responsible innovation.

“This will enable the AI Lab to accelerate the development of scalable solutions that address real-world insurance challenges and redefine what customers can expect from their insurer.”

The Zurich AI Lab will work 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.

Research will be led by a multidisciplinary team of PhD and master’s students, guided by senior Zurich leaders and professors from both academic institutions.

In addition to Greco, key executive sponsors include Ericsson Chan (Group Chief Information and Digital Officer) and Carlos Rey de Vicente (Group Chief Transformation Officer), alongside Prof. Dr. Karolin Frankenberger (University of St. Gallen) and Prof. Dr. Elgar Fleisch (ETH Zurich).

The Lab will provide academic freedom for the University of St. Gallen and ETH Zurich, while accelerating Zurich’s innovation drive to develop and adopt new AI solutions. T

It will also publish academic papers on the transformative impact of AI on insurance, business strategy, and operating models.

Mario Greco, Group Chief Executive Officer, Zurich Insurance Group, said: “AI has proven its significant value by enabling us to better serve our customers, reduce response time, and deliver more accurate risk information.

“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 revolutionise our business model and pioneer the next generation of insurance solutions.”

“AI will radically transform the business model of the insurance industry. 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,” Prof. Dr. Frankenberger, University of St. Gallen, commented.

“The latest developments in Agentic AI challenge us to rethink not only how we solve complex problems, but also how we organise and build the solutions themselves. 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,” Prof. Dr. Fleisch, ETH Zurich, added.