When insurers expand globally they inherit myriads enterprise apps, core systems, data silos. Deploying a platform becomes a nightmare unless you can architect digital wrappers around group.
Swiss insurer Zurich has paid $2.1bn to buy ANZ’s life insurance business, catapulting itself into the number one slot in the Australian retail life insurance market. Until now, Zurich has held the number five position. The insurer said the deal fits in with its strategy to expand in so-called capital-light life insurance products.