Collaborations between insurance industry enterprise and universities were announced this week—one between ACORD and St. John’s University and the other between Zurich Insurance Group, the University of St. Gallen and ETH Zurich.

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Zurich Launches AI Lab

Zurich Insurance Group announced the launch of Zurich AI Lab, working in collaboration with the Institute of Management & Strategy at the University of St. Gallen and ETH Zurich’s Agentic Systems Lab.

The joint initiative will be based out of St. Gallen, Zurich, and Singapore, aiming to accelerate industry transformation using the power of artificial intelligence.

A multidisciplinary team of PhD and master’s students will lead research efforts of Zurich AI Lab, guided by senior leaders from Zurich and professors from the University of St. Gallen and ETH Zurich.

Zurich AI Lab was spearheaded by Group CEO Mario Greco. “AI has proven its significant value by enabling us to better serve our customers, reduce response time, and deliver more accurate risk information,” Greco said. “The Zurich AI Lab is our moonshot factory, bringing together market-leading business and technology expertise and cutting-edge research with one clear goal: to revolutionize our business model and pioneer the next generation of insurance solutions.”

In a media statement, Zurich Insurance Group said a simple and powerful idea lies at the heart of the initiative—that artificial intelligence isn’t just a tool to improve efficiency but is also “a force capable of transforming the very business model of insurance.”

The new AI Lab combines academic research capabilities, Zurich’s deep industry and technology expertise, and a commitment to responsible innovation. “This will enable the AI Lab to accelerate the development of scalable solutions that address real-world insurance challenges and redefine what customers can expect from their insurer,” Zurich said in the media statement.

In addition to Mario Greco, key executive sponsors include Group Chief Information and Digital Officer Ericson Chan, and Group Chief Transformation Officer Carlos Rey de Vicente; Prof. Dr. Karolin Frankenberger from University of St. Gallen; and Prof. Dr. Elgar Fleisch from ETH Zurich.

The Zurich AI Lab will provide academic freedom for University of St. Gallen and ETH Zurich, while accelerating Zurich’s innovation drive to develop and adopt new AI solutions.

The Zurich AI Lab will also publish academic papers on the transformative impact of AI on insurance, strategy and business models, using data and insights gained from its research.

“AI will radically transform the business model of the insurance industry,” said Professor Frankenberger, who added that the collaboration will build on research “in business model innovation and incumbent disruption” already underway at the University of St. Gallen to advance new research, and contribute to society through “impactful knowledge, innovation, and partnerships.”

ETH Zurich Prof. Fleisch said that ETH Zurich students, at the forefront of the agentic AI wave, are “turning ideas into impactful real-world AI applications” and that Zurich AI Lab “creates the bridge between this talent and a leading business to build what’s next.

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St. John’s University, ACORD Partner on Executive Ed

New York City’s St. John’s University is partnering with ACORD, the standards-setting body for the insurance industry, to offer exclusively priced virtual or in-person executive education programs to ACORD members and their employees.

Programs focus on insurance fundamentals, professional skills, and leadership capabilities and are offered by the faculty at the university’s Maurice R. Greenberg School of Risk Management, Insurance and Actuarial Science in the business school.

The courses address three career levels—early, mid-level, and senior level.

According to the information on a University website page included in the announcement, programs can be run for organization cohorts—closed programs for 20-40 employees of one organization, aligned to its strategy and culture. Alternatively, they can be run for member cohorts, which means that individuals join from across ACORD member organizations to form 20-40-student cohorts that pursue shared learning journeys.

At the senior leadership level, one option is four-course program leading to an Executive Certificate in Insurance Leadership. Courses titles here can include, “Leading AI-Driven Innovation in Insurance,” “Human-Centered Change and Transformation,” “Strategic Leadership for a Changing Industry,” and “Modern Strategy and Scenario Planning.”

At the other end of the spectrum, early career level programs can include “Industry Foundations” courses on topics including the insurance value chain, policy lifecycle basics, basic insurance math and ratemaking, insurance regulation, technology and climate trends, among others. “Insurance Essentials” sessions have titles like “Underwriting 101” and “Professional Skills” sessions focus on interpersonal effectiveness and multigenerational collaboration.

St. John’s main campus is located in Queens and the school has another location in Manhattan. The university also has locations in Italy, France and Ireland.

Through its Tobin Center for Executive Education, the university provides education, training, and consulting services to industry, governments, and regulators worldwide.

ACORD’s participating organizations include insurance and reinsurance companies, agents and brokers, software providers, financial services organizations, and industry associations. ACORD maintains offices in New York and London.