Zurich Innovation Championship Gives Platforms for Indonesian Start ups to Go International
February 18, 2020
- Second annual global innovation tournament themed “Protecting the Next Generation” attracts over 1,300 start ups from around the world.
- Four Indonesian start-ups vie for an opportunity to get global recognition and scale up their innovation.
- The number of participating start ups rose three fold from its inaugural tournament.
Jakarta, 18 February – Zurich Indonesia announces six shortlisted start ups from Indonesia, Singapore, Hong Kong and United States to present their innovation in front of panel of judges for an opportunity to go the Asia Pacific round of the second annual Zurich Innovation Championship (ZIC). ZIC is a global tournament for start ups to submit their innovation to win an opportunity to scale up their solutions together with Zurich.
Over 1,300 submissions were received following its launch on September 24th, 2019 in Las Vegas with ideas reflecting the tournament theme of ‘Protecting the Next Generation’, including 27 submissions for Indonesia, from which four of them are from Indonesia. They include businesses as varied as a manufacturer of paints that use sunlight for cooling, an insect farm, and a community driven platform that empowers women by strengthening their financial knowledge. The number of submissions tripled from the previous year's competition.
Chris Bendl, Country Manager Zurich Indonesia, said, “As a leading insurer with a global reach, we’re best placed to join forces with agile, innovative startups and support the ideas that can improve lives. Through the Zurich Innovation Championship, we’re developing the tools to adapt to and predict our customers’ changing needs. By engaging startups, we can build a better society and bolster resilience to risk for individuals and businesses alike.”
Fadjar Hutomo, Deputy of Industry and Investment of the Ministry of Tourism and Creative Economy attends the tournament’s country selection round. In this round, the six finalists present their innovation in front of a panel of judges, which includes Hassan Karim, Zurich Underwriting; David Fike, Regional Head of Strategy, Zurich Asia Pacific; Ashvin Uttamsingh, Chief Operating Officer, Zurich Topas Life; Hengky Prihatna, Executive Director of Northstar Group; and Wayah Wiroto, Managing Director, Endeavor Indonesia.
The participating startups will undergo three selection rounds- country, regional and global. The regional and global selection round will take place in June and August 2020, respectively. In the global round, Zurich will select top three (gold, silver and bronze) winning startups to receive resources to execute idea (joint-provision by Country and Group) in their respective countries.
“ZIC gives a platform to entrepreneurs and established startups with novel solutions to the problems we all face. We want to push the boundaries of transformation to better serve our customers and our communities. Together we can turn the impact of technological advancement and exponential population growth into big opportunities to benefit Indonesia and beyond,” added Hassan Karim, Underwriting, Zurich.
ZIC reaffirms Zurich Insurance Group’s commitment to limitless innovation. In this competition, Zurich provides startups the opportunity to grow their customer base on a commercial scale with the experience that Zurich has garnered in the insurance industry over a period of almost 150 years.
Additional information on the Zurich Innovation Championship is available at: www.zurich.com/zic. This website will be updated regularly.
Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. With about 55,000 employees, it provides a wide range of property and casualty, and life insurance products and services in more than 215 countries and territories. Zurich’s customers include individuals, small businesses, and mid-sized and large companies, as well as multinational corporations. The Group is headquartered in Zurich, Switzerland, where it was founded in 1872. The holding company, Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information about Zurich is available at www.zurich.com.
Zurich Indonesia serves customers in the Life and P&C insurance segments through PT Zurich Topas Life (ZTL) and PT Asuransi Adira Dinamika (Adira Insurance). Adira Insurance is 80% owned by Zurich. Through a network of distributors (agents, brokers and bank partners), ZTL offers comprehensive protection and financial planning products, while Adira Insurance provides conventional and shariah based products and services.