Baloise recognised as one of Switzerland’s most innovative insurance companies of 2023

Basel, 23 November 2023. Baloise wins the people’s choice award for the project  «Rapid Damage Cockpit (RDC)» and the second prize for «Parasurance» at the Swiss Insurance Innovation Awards. The innovation award is presented by the online trade journal HZ Insurance in collaboration with a panel of high-profile judges. 

Baloise took home the people’s choice award as well as second prize at yesterday’s ceremony for the Swiss Insurance Innovation Awards, meaning that Baloise was once again recognised as one of Switzerland’s most innovative insurance companies. This time, the company won the judges’ favour with its projects «Rapid Damage Cockpit (RDC)» and «Parasurance». “I am delighted that our employees have been honoured once more for their innovative strength and that Baloise has again been named as one of the most innovative Swiss insurers,” said Clemens Markstein, CEO of Baloise in Switzerland.
 

The project Rapid Damage Cockpit (RDC)  

The Rapid Damage Cockpit (RDC) helps Baloise to support customers as quickly as possible after an emotionally upsetting event. Using our innovative RDC map, we identify customers affected by a severe adverse weather event and automatically send them a form by email or text message in the immediate aftermath of the event. This form enables them to report any loss or damage they have suffered with just a few clicks on the same day, taking one worry off their minds. An additional function that will send an automated text message to customers ahead of a storm is currently being implemented. This will enable us to reach out to customers and warn them of adverse weather events. The text message will provide details concerning the expected nature and severity of the event. “We are delighted to have won the Swiss insurance people’s choice award – many thanks to everyone who voted for us! The fact that the insurance company actively contacts the customer in the event of a claim reverses the traditional claims reporting process, which in turn means simplification for the policyholder,” said Roland Saxer, Head of the Competence Centre for Property Insurance at Baloise. 

The project Parasurance 

Baloise is integrating three parametric types of cover into its holiday insurance. These new insurance modules – offering cover for bad weather, delayed flights or delayed baggage – supplement the company’s existing holiday insurance that covers cancellation costs, lost baggage and hire car insurance. Baloise is offering these new types of cover, which can also be taken out individually, in partnership with KASKO and the start-ups Wetterheld and Blink Parametric. Parametric insurance means that policyholders do not need to report claims proactively. Instead, Baloise automatically contacts the customer as soon as the parameters set out in the terms and conditions of insurance are exceeded. “We are delighted to have achieved second place in the Innovation Award. The parametric component revolutionises the claims notification process by transferring the claims notification to the insurer – which also means a great simplification for our customers”, says Clarissa Nucerito, New Business Manager at Baloise.

Contact
Baloise, Aeschengraben 21, CH-4002 Basel
Website: www.baloise.com
E-Mail: media.relations@baloise.com / investor.relations@baloise.com
Media Relations: Tel: +41 58 285 76 09
Investor Relations: Tel: +41 58 285 81 81

About Baloise

The focus is firmly on the future at Baloise. We aim to make tomorrow more straightforward, safer and more carefree for our customers, and we are taking responsibility for this today. Baloise is more than just a traditional insurance company. Through our smart finance and insurance solutions, complemented by a whole host of innovative offerings for the home and personal transport, we offer a complete service package. Dependable support, reliable cooperation and trust-based relationships are key aspects of our stakeholder interaction. We take care of financial matters so that our customers can concentrate on the important things in their lives and can find inspiration in the everyday. Baloise, a European company founded in 1863, currently employs 8,000 people at its headquarters in Basel (Switzerland) and across its subsidiaries in Belgium, Germany and Luxembourg. Our services generated a business volume of around CHF 8.8 billion in 2022. Baloise Holding Ltd shares (BALN) are listed on the SIX Swiss Exchange.