Zurich Financial Services Australia has announced that Haast, a company whose software platform uses Artificial Intelligence to automate compliance processes, has won the Australian round of its global Innovation Championship.
The insurer says the Zurich Innovation Championship, which is in its fifth year, offers start-ups the opportunity to work with the company on solutions to key challenges within the insurance sector. In 2024, the competition’s categories were: Commercial Insurance, Digital Simplification, Life & Health, and Retail Property & Casualty.
It says the local Australian winner, Haast, uses AI to “…scan and monitor digital assets for compliance issues before, and after, they are published, enabling significantly improved productivity and reduced risk.”
Shaneen Marshall, Chief of Technology and Strategy, Zurich Australia and New Zealand, says that investing in “…innovative, AI-driven digital solutions is critical for ensuring we continue to provide high-quality and efficient customer experiences.”
The 2024 championship attracted more than 3,300 applicants globally, which Zurich says confirms its status as one of the largest startup events in the insurance industry and the world.
Kunal Vankadara, Co-Founder of Haast, says his company is thrilled to have won the Australian round and is “…excited by the possibility to elevate and scale our platform with the support of Zurich’s strong global presence and deep technological insight.”
Haast will now present to Zurich executives based in Switzerland against other winners from around the world. Two winners from each category will then receive up to US$100,000 in funding and enter a four-month accelerator program to test their solution.
