Resources
Sixfold News
Published on: 
May 29, 2024

Sixfold Is Named a Zurich Innovation Championship Winner

5 min read

I’m thrilled to announce that Sixfold has been named a winner of this year’s Zurich Innovation Championship! Since 2018, Zurich Insurance Group has overseen an annual “collaboration program” with select startups from around the world to develop new offers and services for their customers. The yearly Championship has rapidly expanded to become the industry’s largest open innovation contest with thousands of applicants from over 30 countries resulting in more than 50 active initiatives implemented through Zurich Insurance’s global business. 

‍Celebrated for Pioneering Innovation

Sixfold was only one of nine teams selected out of a pool of more than 3,000 global applicants to take part in the accelerator portion of the Championship. Our team will take on the “Commercial Insurance” challenge to engineer technical solutions that “improve transparency and accountability, enhance risk management capabilities, and foster sustainability transition through a culture of trust and innovation.”

For the next four months, our team will collaborate with leaders from Zurich North America (ZNA) to build AI-powered risk analysis & summarization solutions to augment underwriter workflows through the automation of high-volume (but not necessarily high-value) tasks.

Improving Insurance Efficiencies

Unlike traditional accelerator programs, which focus on product development, the Innovation Championship aims to accelerate the adoption of a new solution within Zurich Insurance’s global business. We’re thankful to the leadership at Zurich Insurance for believing in Sixfold’s mission and our team, and we look forward to building an amazing solution that results in improved efficiencies that benefit Zurich’s customers, insurance brokers, and other stakeholders. 

This collaboration comes only two months after Sixfold’s selection to participate in the 12th cohort of Lloyd’s exclusive accelerator program, Lloyd’s Labs, which kicked off in April and we will be demoing in July. 

We’ve only just begun Sixfold’s second year — and it’s turning out to be a BIG one!

This article was originally posted on Linkedin

Share this post
Jane Tran
Co-founder & COO
Use Case
Current Process
With Narratives
Quoting
Currently, risk factors are pulled together manually to decide if a case should be quoted.
Automatically summarizes key risk drivers upfront, providing a clear snapshot to prioritize cases faster.
Peer Reviews
Peer reviews are slowed by unstructured summaries; reviewers often have to go back to source documents.
Risk factors and case notes are presented clearly and consistently.
Referrals
Referral memos vary between underwriters; approvers often have to sort through inconsistent write-ups to understand the case.
Consistent case summaries make it easier for approvers to see the full risk story and sign off faster.
Decision Documentation
Underwriting rationale is often recorded unevenly; teams spend time cleaning up notes when preparing for audits.
A standardized record of underwriting rationale is created automatically, ready for audit without extra effort.
Business Impact
Faster decisions on which risks to quote.
More consistent risk appetite application and faster reviews.
Faster referral decisions.
Lower compliance risk and faster audit prep.
Quoting
use case
Current Process
Currently, risk factors are pulled together manually to decide if a case should be quoted.
With Narratives
Automatically summarizes key risk drivers upfront, providing a clear snapshot to prioritize cases faster.
Business Impact
Faster decisions on which risks to quote.
Peer Review
use case
Current Process
Peer reviews are slowed by unstructured summaries; reviewers often have to go back to source documents.
With Narratives
Risk factors and case notes are presented clearly and consistently.
Business Impact
More consistent risk appetite application and faster reviews.
Referrals
use case
Current Process
Referral memos vary between underwriters; approvers often have to sort through inconsistent write-ups to understand the case.
With Narratives
Consistent case summaries make it easier for approvers to see the full risk story and sign off faster.
Business Impact
Faster referral decisions.
Decisions Documentation & Audits
use case
Current Process
Underwriting rationale is often recorded unevenly; teams spend time cleaning up notes when preparing for audits.
With Narratives
A standardized record of underwriting rationale is created automatically, ready for audit without extra effort.
Business Impact
Lower compliance risk and faster audit prep.