HSG, ETH and Zurich Insurance establish Zurich AI Lab

(CONNECT) The HSG, ETH and Zurich Insurance have joined forces to fundamentally change the business model of the insurance industry with a joint research laboratory for artificial intelligence (AI). This is because "AI has the potential to create new customer experiences that are faster, smarter and more personal than ever before," the partners said in a statement to the same effect.

In the new Zurich AI Lab, the Institute of Business Administration of the HSG, the Agentic Systems Lab of the ETH and Zurich Insurance will research new business models, end-to-end processes and offerings in the insurance industry and develop them further or, if necessary, from scratch. The aim is not only to increase efficiency, but also to achieve holistic transformation and practical research, for example to improve risk analysis, damage detection or customer interaction. "The cooperation aims to use AI in an ethical and socially responsible manner," the press release states. The scientific freedom of the university partners should be fully respected.

The lab will be based in St.Gallen, Zurich and Singapore. Students, doctoral candidates and researchers will work directly with Zurich Insurance executives and technology experts. "The Zurich AI Lab is our think tank," says Zurich Insurance Group CEO Mario Greco. It is pursuing the clear goal of "revolutionizing our business model and driving the next generation of insurance solutions".

According to ETH professor Dr. Elgar Fleisch, the lab builds a bridge between students "and a leading company". Prof. Dr. Karolin Frankenberger from the HSG wants to "promote new research work and make a contribution to society through valuable knowledge, innovation and partnerships", building on the HSG's expertise in business model innovation and disruption through AI. ce/mm