<p><strong>Speaker 0</strong>: <span>to discuss how businesses and insurers can work together to create a truly holistic approach to risk management. I'm joined now by Kumu Kumar. He is head of Zurich Resilience Solutions UK K. But first of all, tell us a little bit about Zurich Resilient solutions. What does it do?</span></p> <p><strong>Speaker 1</strong>: <span>So Zurich Resilient Solutions is a consultancy service company. So in simple terms, we offer consultancy services for what our customers need assistance with. As a team, we are a team of risk engineers as well as consultants with a breadth of skill sets that we can use to assist our customers. And so how</span></p> <p><strong>Speaker 0</strong>: <span>many people are you employed? Are they all dedicated to this particular service, or are they sort of sharing jobs between that and other parts of the Zurich group</span></p> <p><strong>Speaker 1</strong>: <span>so dedicated to Zurich? Resilient solutions globally are over 850 people, and in the UK, we are working towards 100 and 70 people in the UK. These are dedicated Zurich Resilience solutions. Individuals who work with our customers for their risk needs.</span></p> <p><strong>Speaker 0</strong>: <span>Well, you mentioned cyber, which has been growing rapidly in recent years. So what are some of those newer services that customers are looking to buy from you at the moment.</span></p> <p><strong>Speaker 1</strong>: <span>I think the biggest is climate resilience. I think it's something that in the UK we have a lot of mandatory frameworks in place now. So many companies are starting to realise it's something they really have to be properly prepared for and have to demonstrate it not only to these, uh, governance bodies, but also to their customers And the wider public. Customers are very choosy now with who they buy, uh, their services and products from</span></p> <p><strong>Speaker 1</strong>: <span>and we help those Cus uh customers ensure that they demonstrate that they are protecting the planet in everything that they do not just their core business, but also with their supply chain networks and everything else around that</span></p> <p><strong>Speaker 0</strong>: <span>when when you talk about climate resilience, are businesses using it because it's beginning to, or climate impacts beginning to affect them already, or because they think this is best practise for something that will hit them in the future?</span></p> <p><strong>Speaker 1</strong>: <span>A lot of businesses are seeing what's going around them. Some are, you know, impacted. So in the UK, for example, flood is an issue. We are getting dry spells now, lengthy dry spells over summer that creates issues with the foundations of the buildings that they own subsidence. So we are getting, uh, you know, fires and what have you wildfires in the UK. And we all know the stories that have come across from Europe this year,</span></p> <p><strong>Speaker 1</strong>: <span>So they're being customers are beginning to realise that their physical assets are potentially at risk from what the world throws at them in relation to climate change. So what that allows us to work with the customers map where their physical assets are really look at what the risks they're exposed to now from a climate perspective or anything else,</span></p> <p><strong>Speaker 1</strong>: <span>but really powerfully model into the future as to how that could happen. So we we are here today. In London, for example, there are a number of customers who are property portfolio owners who know that the Thames Valley, you know, is very prone to flooding. So what will it look like in 10 years time, 20 years time? So that they can prepare their physical assets for what the world has in store for them.</span></p> <p><strong>Speaker 0</strong>: <span>Now, Zurich resilient Solutions has developed something called Zurich Risk Clarity WW. What is it exactly how How does it How is it designed to help customers?</span></p> <p><strong>Speaker 1</strong>: <span>So Zurich Risk clarity is a solution that we've partnered with Risk Connect, a market leader of risk management information systems to really take all of the data that we hold for customers and put it in a platform that allows them to access their data and use really powerful data analytics on that data. So in simple terms,</span></p> <p><strong>Speaker 1</strong>: <span>it's a solution that puts all of their premium data all of their claims data policy data in one place and using Data Analytics allows them to view a variety of lenses, analyse that data and give them trend information, give them causation, information and really pull together a challenging view for their management teams as to what, how their risk transfer, how effective it is</span></p> <p><strong>Speaker 1</strong>: <span>and how they can potentially start to reduce their losses.</span></p> <p><strong>Speaker 0</strong>: <span>What you describing? There is data that's inputted that you have on on them. If you like, uh, would those companies be able to bring in other data themselves and and and sort of, perhaps create, um, more, more touch points to allow them to assess risk and think about the future?</span></p> <p><strong>Speaker 1</strong>: <span>It's a fully portable system. So the system is owned by the customer. No one else. So they have. They are in charge of the data and who sees it. If they're a Zurich customer, we can use a, uh, a system called API application programming interface to literally pipe that data, no manual entry straight into the system</span></p> <p><strong>Speaker 1</strong>: <span>and risk connect. Our partner can work with other carriers to do exactly the same should the customer request it? So, yes, it's a It's a system that is designed to be holistic, not just tuned to Zurich. And it allows everyone's data to be held centrally in one place, giving the customer that holistic view it.</span></p> <p><strong>Speaker 0</strong>: <span>It's also, uh, Zurich risk strategy seems to be quite closely tied to Salesforce. So if you're a company that doesn't use sales force,</span></p> <p><strong>Speaker 0</strong>: <span>do you need to get a licence? Is it completely independent? How how does that relationship work?</span></p> <p><strong>Speaker 1</strong>: <span>So the system comes with all the licences that you need from a sales force perspective. If you know Salesforce, that's great. It will look familiar, however salesforce the platform is behind. It works in the background, so we are leveraging the power of that system</span></p> <p><strong>Speaker 1</strong>: <span>in Zurich risk clarity, but the front end is very, very easy to use. We have designed it to be a very simple user interface, very, very intuitive. So it doesn't matter whether you know, sales force or not. It's a system that has been designed to be very easy to use for anyone who has an ability to and an aspiration to learn more about the data that they have.</span></p> <p><strong>Speaker 0</strong>: <span>If there's a company watching this, that says, it still sounds really interesting. I'd like to know more, but I'm not. I'm not a Zurich customer. Would they be able to access purely access the resilient solutions part of the business, or do they have to buy their insurance from you as well?</span></p> <p><strong>Speaker 1</strong>: <span>So when we set up Zurich Resilience Solutions, we were actually listening to our customers. And there are customers who are our insured customers,</span></p> <p><strong>Speaker 1</strong>: <span>and they all said, Listen, we we have access to your, uh, team, but only on the insured parts of our business.</span></p> <p><strong>Speaker 1</strong>: <span>So we moved away from that prescriptive approach to a service mentality, a customer first mentality. So by building Zurich resilient solutions, we've done exactly what you described you do not have to be Zurich insured to access Zurich resilient solutions anymore. You can come to us for</span></p> <p><strong>Speaker 0</strong>: <span>anything. And what would you say the customer benefits from working with with the Zurich Resilience Solutions team? And, as importantly, how do you How do you measure those benefits?</span></p> <p><strong>Speaker 1</strong>: <span>So the key benefit is if you are in Zurich insured, then you have a good view of your insured portfolio in terms of risk, quality and risk. Quality is key. Helps to help mitigate or reduce or eliminate your losses. But it also helps to ensure that your risk transfer is efficient as well.</span></p> <p><strong>Speaker 1</strong>: <span>Now, if you engage with us and it's nothing to do with a a Zurich policy, you are independent. You're not a Zurich insurance buyer.</span></p> <p><strong>Speaker 1</strong>: <span>You are getting an independent viewpoint of your risk, UH, quality. So that allows you to take that and challenge anything from your existing insurance carriers or your broker viewpoints and use the expertise of Zurich resilience solutions in an independent way. We have ethical walls in place, so regardless of whether you're Zurich insured or not, if you engage with us, you have the choice as to who sees the output of our consultancy</span></p> <p><strong>Speaker 1</strong>: <span>in terms of measuring the quality of that, uh, there are customer satisfaction measures like, uh, TNPS, uh, so net promoter score type activities. And we rate very highly in terms of how we work with our customers. We build really long term relationships,</span></p> <p><strong>Speaker 0</strong>: <span>and finally we talked a little bit around products and services. But as you look out at the world of insurance at the moment and risk, what are the key emerging risks that you think we're all going to be talking about over the next few</span></p> <p><strong>Speaker 1</strong>: <span>years? I think the key aspect at the moment is very much around</span></p> <p><strong>Speaker 1</strong>: <span>the fact that we have moved from a low inflation economy to a high inflation economy. Think about the impact that that has on everything that we do, everything that we buy, everything that we own. Um so valuation services, I think, is something that is going to become more critical. The changes in the</span></p> <p><strong>Speaker 1</strong>: <span>things that we own, the assets that we have some will be going down. House prices, for example, are going down, but some assets are going up. So getting a good handle on your sums insured is is a critical thing as we move from a low inflation economy to a high inflation economy.</span></p> <p><strong>Speaker 1</strong>: <span>I think we have to think about how we protect ourselves from the aspects of climate change. So wildfires, uh, subsidence after long, dry periods. So really embracing what we are seeing now is key, and I have to talk about cyber because the cyber attacks that we are seeing are growing exponentially.</span></p> <p><strong>Speaker 1</strong>: <span>Uh, there are much more wider actors involved in this, and they're moving from the loan attacker to state sponsored attacks as well, not just impacting customers, but everything in their supply chain as well. So</span></p> <p><strong>Speaker 1</strong>: <span>there's a There's a whole host of things moving forward but becoming more resilient in protecting your assets. Protecting your supply chain and also your reputational risk</span></p> <p><strong>Speaker 1</strong>: <span>as well as having a good handle on the value of your own assets and your own business, are some of the key aspects that we need to think about in the future. We</span></p> <p><strong>Speaker 0</strong>: <span>have to leave it there. Kumar. Thank you.</span></p> <p><strong>Speaker 0</strong>: <span>Thank you</span></p>