Loss prevention better than a claim: Zurich dials up multinational

As the risks facing multinational companies become ever more complex and nuanced, Zurich Insurance is placing a growing emphasis on offering a more holistic solution with prevention discussed hand in hand with traditional insurance solutions.

That is the how Bernadette Hackett, head of customer and distribution, Zurich Insurance, describes the evolving role of a global insurer in today’s risk landscape. She stresses that a client’s needs to be at the centre of an insurer’s offering now, allowing them to “run their business without fear”.

She added: “The key should be avoiding losses – preventative solutions. That side of what we do, whether we are preventing cyber-attacks or traditional property losses, runs alongside the insurance product. Helping clients prevent claims has always been something we do, but the volume has been turned up on that in recent years.”

This year, as part of its celebration of 50 years of providing insurance solutions to multinational companies, renamed Zurich International Programs to Zurich Multinational. These clients, which Hackett describes as having complex needs, also benefit from Zurich Resilience Solutions, which is designed to identify and quantify exposure to risk and drive mitigating actions. 

“That product dovetails so well with insurance solutions,” she said. “It might often be the case that a client can pay less with another provider, but the preventative services we offer can mean a net saving for the client – less downtime, less disruption to their business.”

She explained such products can also help risk managers by helping them make a business case for covering new and emerging risks. “It can be hard for a risk manager to find budget for a new risk, but starting with a consultation that identifies the challenges can help explain and justify decisions to their board.”

The type of risks worrying clients has shifted in the past couple of years, she notes. Where climate was typically a top concern a few years ago, geopolitical challenges now dominate – something reflected in the results of the Airmic 2025 member survey (see p4). 

“Geopolitical instability is a challenge for many of our clients – it is another form of transition risk in some ways,” she said. “They have concerns over supply chain disruption, tariffs and other forms of business interruption. Our job is to find solutions.” 

Hackett stressed that the multinational clients she works with inevitably have complex needs – and high demands. “We have to step up to these challenges,” she said.

She also referenced a process that often helps such clients – large-loss scenario planning workshops, where the insurer helps clients understand how a “worst case” scenario might play out. “It can represent a learning in a moment of calm – we have seen some great results come from that,” she said.

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