Insurance will not be sexy. If you ask Zurich’s Chief Customer Officer Conny Kalcher, she is going to say the other. But that is not the way it began for her.
Kalcher got here to Lego after a 33-year profession at toy giant Lego. The two industries are as different as night and day – and so are their customers.
But Kalcher saw a chance for Zurich to teach Generation Z on all financial topics. For the corporate, it was a likelihood to rework the cold and distant approach of insurance into something more accessible.
“I thought they were men in suits who were very formal and did things in a certain way. But that’s not the case at all,” said Kalcher Assets within the interview.
The Swiss company has been around for 150 years, starting out as a humble ship insurer in 1872. It has survived multiple wars, natural disasters, pandemics and more to grow to be the insurance giant it’s today. But under Kalcher, who joined Zurich five years ago, the insurer has adapted to the fashionable world – a world threatened by climate change. Cyber attacksand an ageing population.
Lessons from Lego
Lego has a popularity as a top toy manufacturer. But Kalcher was at the corporate when things were different.
“Lego is a really wealthy brand. If you have a look at the history of Lego, you can find strong narrative traditions, brand understanding [and] Customer understanding… it wasn’t at all times like this,” she said.
During Kalcher’s three-decade profession as head of promoting and consumer experience efforts at Lego, there have been low points for the corporate when it was on the verge of as regards to insolvency– something that seems unthinkable today, because the Danish company surpasses the worldwide toy industry.
One reason Lego was in a position to turn its business around is since it put customers first and tried to satisfy their needs, Kalcher said. In that sense, she doesn’t see much difference with insurance.
“Of course, the two industries are very different,” said Kalcher. “But customers are customers, and customers often want the same thing. [thing].”
Courtesy of Conny Kalcher, Group Chief Customer Officer, Zurich Insurance, 2024
People need to feel like they’re being taken care of and that their needs and lifestyle are being met, but often that feeling gets lost within the sea of insurance jargon.
Although Zurich has experienced remarkable global growth in its greater than 100-year history, the corporate has still struggled to redefine itself. Around 70 percent of the corporate’s retail business is conducted in Europe, the Middle East and Africa. It’s a competitive environment where customer loyalty is tough to realize as prices grow to be more of a draw for patrons.
“When I started, the goal was: ‘We are here to protect you.’ And you know what? Every insurance company in the world is there to protect you. That doesn’t make you stand out from the crowd,” said Kalcher. And that was exactly where she saw her key role: She desired to make the corporate more tangible and eliminate the “bad image” that insurance firms had acquired over time.
Change the approach
Kalcher’s vision for the Swiss company is to make it the “Apple of insurance.” Why? To set the bar high for methods to reach people and make them feel cared for.
It is no secret that Apple understands its customers’ needs thoroughly – and one in all its secrets is consistency. This might be why the corporate’s devices are probably the most widely used on this planet, from young to old. Zurich also wants to construct an analogous relationship with its base.
Take Generation Z, for instance. This group, born between 1997 and 2012, is entering the workforce in droves yearly and can, over time, Millennial counterpartsThey are a digitally savvy generation who’ve only experienced the world through technology.
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They are also not as financially sensitive, which opens latest doors for Zurich, said Kalcher. However, this also implies that the insurer must change its approach and make insurance more attractive to its younger audience.
“In some countries we use TikTok to speak to this generation and it works very well. Instagram too,” said Kalcher. The goal is to be entertaining, engaging and reliable for Generation Z and beyond.
Zurich’s short videos on TikTok and Instagram, a few of which have garnered over 10 million views, cover a spread of topics from financial security on vacation to debunking myths about automobile insurance. Since 2021, when Zurich launched its Instagram account, the corporate says its follower count has increased by 96%. Since the launch of its TikTok account the next 12 months, the number has increased by 430%.
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Kalcher’s idea is easy: “It’s about becoming relevant by being present where these customers are. Then it’s about making the right offers to these customers.”
The company also uses AI to simplify communication with people, making information easier to seek out and understand.
Ultimately, Kalcher wants people to see Zurich as a singular company that’s changing for its customers.
“I want our customers to start talking about us as special, as someone who is really there for them,” she said. “That would be the ultimate accolade for us.”
