Zurich’s Asia Pacific portfolio is said to include more than 200 relationships in six markets. Credit: Jonathan Weiss via Shutterstock.

Zurich Insurance Group (Zurich) has launched a new set of technology capabilities to offer digitally embedded insurance across all its Asian markets.

Called Zurich Edge, the new solution is said to have an open architecture and the ability to support end-to-end customer journeys comprising quotes, purchasing, servicing, and claims.

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Utilising Zurich’s knowledge and global reach, Zurich Edge partners will also have access to the services of Zurich Global Ventures and the Zurich eXchange global API marketplace.

The launch of Zurich Edge comes as partner businesses look to include unique offerings into their online ecosystems and provide clients with a one-stop-shop experience, expanding the use of digitally embedded insurance.  

It is anticipated that by 2028, embedded insurance channels would account for more than 30% of all P&C insurance transactions worldwide, it added.

Zurich Insurance Group head of customer & digital, Asia Pacific Roopa Malhotra said: “This is a very relevant time for digital insurance across Asia Pacific as we continue to witness the growth of tech-savvy customers who lack adequate insurance coverage.

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“With this in mind, we have embraced a holistic approach through Zurich Edge, considering every facet of the digital insurance value chain to modernise the entire experience and be more responsive to evolving partner and customer needs.”

The new technology suite builds on the insurer’s partnerships with leading companies in the Asia Pacific region, including Japan Airlines, TikTok, Citibank, and MYAirline.

Zurich’s regional portfolio is said to include more than 200 relationships in six markets spanning sectors such as retail, travel, finance, fintech, e-commerce, automotive, and telecommunications.

Earlier this month, Zurich formed a partnership with Belgian insurtech Qover to bolster its embedded insurance capabilities.