Zesty.ai Wins Silver in Zurich’s Global Insurtech Competition
Now Deploying Artificial Intelligence Based Solutions with Zurich North America
Zesty.ai was selected as the Silver Award winner by Zurich Insurance Group (Zurich) in the first ever Zurich Innovation World Championship for its work leveraging artificial intelligence to revolutionize risk underwriting and customer experience for Property and Casualty insurance. Zurich is a leading multi-line insurer with about 53,000 employees and presence in more than 210 countries. Zurich is the parent company of Zurich North America and Farmers Insurance.
Zesty.ai has developed an AI-based solution that can provide insurers with detailed and accurate property insights to improve underwriting, pricing and post-event response. Using satellite and drone imagery, information collected by aircraft, weather data and other structured data sources, zesty.ai has analyzed more than 115 billion data points on 140 million structures.
Group Chief Executive Officer Mario Greco said: “The Zurich Innovation World Championship underlines our ongoing quest to attract and retain the best and most innovative talent across the globe. We received applications from Argentina to Australia, demonstrating the breadth of talent, ideas and people who recognize the opportunity to work with and learn from Zurich. We are very excited to be working with our winners to develop cutting-edge new services, approaches and capabilities that will help us better meet the evolving needs of our customers, employees and other stakeholders globally.”
Zurich has started to pilot zesty.ai’s solutions in parallel with those offered by Chisel AI, the Gold Awardee, in North America. Upon successful completion of the pilot, Zurich and zesty.ai expect to expand the partnership to other regions around the globe.
“Chisel AI and zesty.ai represent the spirit of innovation that we continue to foster as we look for new ways to better serve our customers,” said Anurag Batta, head of Strategy, Innovation and Business Development for Zurich North America. “We look forward to working with both winners to bring innovative solutions to the market.”
Attila Toth, Founder & Chief Executive Officer of zesty.ai commented: “We are humbled by this award from Zurich, a much admired brand in global insurance. We firmly believe that Artificial Intelligence will change the world more in the next decade than the Internet has in the past 25 years. We look forward to partnering with Zurich and bringing the power of AI to property insurance.”
The global round of the Zurich Innovation World Championship was judged by Zurich’s executive committee, who together decided on the four winners. Chisel AI was the Gold winner, and LifeNome and Soldier.ly were named shared Bronze winners. The companies were honored during an awards ceremony at Zurich’s headquarters in Switzerland.