Zurich Programs’ Priorities


ZURICH ADVANCES STRATEGY TO

GROW EXISTING PROGRAMS

As a Program Administrator, you continually assess your business while looking for opportunities for improvement in profitability and growth. Zurich’s Programs team works with Program Administrators to find opportunities to grow and expand existing programs.

A CASE STUDY: COSTANZA SECURITY GUARD PROGRAM

In 2006, Costanza Insurance Agency, Inc. selected Zurich to write their Security Guard program. The strategy at inception was one of focus: to market and write the program in select geographic areas to capitalize on Costanza’s network, expertise and capabilities. The program managers were also strategic in the types of businesses they would pursue and focused on security guards, private investigators and alarm companies.


“The program started in 2006 and has seen continuous growth since then. We are one of the leading providers with an excellent policy,” said Peter Costanza, Costanza’s Chief Executive Officer.


While reviewing program performance earlier this year, Costanza and Zurich made some observations. The program consistently grew year-over-year since 2006, and the numbers reflected continued profitability. After a comprehensive discussion and an assessment of the results and growth trends, the team wondered if there was an opportunity to expand.


Expanding the program became a mutual goal, so the team gathered at Zurich’s corporate offices in Schaumburg to work on the marketing and product strategy.


“The strategy is to be open-minded and develop innovative plans for growth, and at the same time be smart and look for steady, profitable growth. We also want to look for ways to streamline for the ease of our customers, constantly manage risk and mitigate losses, and educate customers,” said Peter.

“Geographic expansion is an important part of the growth strategy” said Brian Costanza, Executive Vice President of Costanza. “The key is working with our largest producers who focus on the security industry. We will work with them and provide incentives to help them target newer geographic areas.”


Costanza also planned to identify other strong, niche producers who may not specialize in the security industry today, but have the interest and the potential to succeed in the security market. “We excel with niche brokers, so we will work with brokers that don’t target security today and work with them to grow the business,” Brian Costanza said.


What can Zurich do to support the growth strategy?


“We are working with Zurich’s team to increase marketing and broaden underwriting tools,” Peter Costanza said. During their visit to Zurich’s corporate offices, Peter and Brian met with Zurich’s Innovation Group in the Innovation Lab to discuss underwriting automation solutions. Streamlining the underwriting process for a specific segment of Costanza’s business would free up time to focus on larger, more complex accounts.

In addition to increased marketing and underwriting support, there are product considerations that will enable growth. “We are great at standard lines, but it is important to provide all lines of coverage so you don’t open yourself up to competitors. The products exist with Zurich, so now it is a matter of underwriting,” Brian Costanza said.


Greg Massey, Head of Zurich Programs says, “Working together with our Program Administrators to find opportunities to grow gives us an advantage. Ideas and insights come from all different perspectives – the Program Administrator and Zurich’s underwriting, marketing and product specialists, we’re all working together to find innovative ways to grow the program.”


Creating opportunities is an important part of the way forward for Zurich Programs. Whether expanding a successful program, or considering new markets, Zurich looks for opportunities to help Program Administrators grow.

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13      PROGRAM LEADER