Zurich Brasil hires Torq to boost innovation

Insurer Zurich Brasil hired Torq, a startup accelerator specialized in innovation, in order to expand and accelerate its own innovations projects.

Zurich's global strategy is focused on three pillars: customers, innovation and simplification, and the contract with Torq is in line with that strategy, said the Brazilian subsidiary in a press release published on insurance blog Sonho Seguro.

"Torq will support the company in the execution and speed of the projects. We do not want innovation for innovation's sake. What is expected is that, in fact, there is a concrete result in the company. An idea not implemented is worth zero," said Rodrigo Barros, director of innovation and strategy at Zurich Brasil.

With the growing use of the internet among Brazilians for various tasks, from financial transactions to online purchases, insurers and banks are investing more in their digital operations.

"The process of digital transformation within a company is complex. There is a set of legacies, from the cultural to pre-established business models. We need to look at the whole to define the strategy on how the company will structure itself. The company needs to be open to change and have a more democratic process," said Marcelo Bradaschia, COO of Torq.