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Zurich Financial Services operate in more than 50 countries worldwide and have just reported a record operating performance for the first nine months of 2005, despite the impact of severe natural catastrophes in the United States and Europe. With shareholder value up 7% and operating profit up 15%, all indications are that Zurich are performing well.

The greatest challenge for Zurich is to maintain this success over the longer term. With fierce competition in the financial services marketplace, and ever increasing regulation, the threat to business success is very real.

Nunwood were asked to help Zurich to look to the future and help re-evaluate their product and service offering using our tailored innovation process. We presented a unique approach which brought together inspirational, consumer centric idea generation, with rigorous business prioritisation tools to provide 360 evaluation of future options.

Alongside our key contact, Hilary Payne, Nunwood appointed a stakeholder team who would be responsible for driving ideas and solutions through to formal business decision making.

The first stage of insight generation was conducted with expert and creative respondents to fully understand consumer needs, wants and ideals within the insurance marketplace. These were then fed into a series of idea generation workshops and used to drive new ways to tackle consumer frustrations, and indeed ways to reinvent the category to avoid them altogether.

Nunwood used non contextual visioning techniques to create lateral leaps difficult for competitors to follow, and to generate unique and ownable customer experiences which would drive growth, advocacy and profit.

A further stage of business idea prioritisation is currently in progress. This involves Nunwood support to fully evaluate each winning idea from an internal and consumer perspective, including cost benefit analysis, market predictions and assistance with branding and positioning.

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“Having a strategic partner you can trust, and with whom you have thought synergy is critical to the success of any innovation programme. Nunwood helped us see the market differently, and think around industry issues in a way which was enlightening”

Hilary Payne,
Head of NPD, Zurich Financial
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