• Symbo selected from strong field of close to 40 Singapore start-ups
• Pilot to develop innovative digital insurance solution for Singapore’s SME segment
Zurich Insurance Company Ltd (Singapore Branch) (Zurich Singapore) has crowned Symbo Platform Holdings (Symbo) the winner of the Zurich Innovation Championship 2020 – Singapore Round.
Symbo’s winning pitch revolves around a digital insurance pilot for the Small and Medium-sized Enterprise (SME) segment. The pilot features a full technology-stack solution to streamline the insurance lifecycle from end-to-end. SMEs will enjoy a seamless digital experience from customer onboarding to claims.
Mr. Reginald Peacock, CEO of Zurich Singapore, said: “As a global organization with more than a century behind us, innovation is a big part of Zurich Group’s strategy in evolving – delivering better products, services and customer care. We are excited to work with partners, such as Symbo, who bring fresh ideas into the insurance industry.”
Symbo, a Singapore-based InsurTech start-up, was selected as the 2020 local winner of the global Zurich Innovation Championship (ZIC) from close to 40 applicants, by a panel comprising senior business leaders and innovation experts from Zurich.
Now in its second year, the ZIC brings together start-ups and innovators across the globe to tackle challenges expected to impact the next generation – climate, health, automation and others – and build a more sustainable tomorrow.
“Zurich takes innovation seriously and it’s been fantastic to see the calibre of thinking and innovation showcased in the competition. We’re extremely pleased to have been selected as this year’s Singapore Champion and given an opportunity to partner Zurich to co-create solutions for an underserved SME space,” said Symbo’s Singapore CEO and Head of International, Mr. Laurens Koppelaar.
Symbo will go on to pitch in the ZIC’s regional round in Asia Pacific in June 2020, following which regional finalists would compete in the global finals in August 2020. The global winner will have the opportunity to make their products and services available to Zurich customers in selected countries and regions.