Creating more accurate risk models will allow Zurich to provide customers with better rates and improve the company’s bottom line. In an effort to improve their existing risk models, Zurich has constructed a 30-person team to experiment with new external data sources such as weather data that can be used to refine how they calculate the risk of potential insurers.
- External data sources are delivered in a variety of complex formats and structures that are not ready for analytic use.
- Zurich analysts struggled to efficiently explore, structure and distill each dataset so it could be leveraged in risk models.
Solutions with Trifacta
- Trifacta allows Zurich’s team to more quickly explore and transform new data sources to define how they can be used to enrich risk calculations.
- Incorporating new data into risk assessment gives Zurich a competitive advantage over other insurers.
Zurich Insurance Group ( Zurich) is a leading multi-line insurance provider with a global network of subsidiaries and offices. Founded in 1872, Zurich is headquartered in Zurich, Switzerland with approximately 55,000 people serving customers in more than 170 countries and territories. In 1912, Zurich entered the U.S and quickly became a leading commercial property and casualty insurance carrier. For more information visit www.zurichna.com.