2024 Zurich Innovation Champion awarded to Australian AI startup Haast

2024 Zurich Innovation Champion awarded to Australian AI startup Haast

Zurich Financial Services Australia today announced that Haast has won the Australian round of its global Innovation Championship for its innovative software platform that uses Artificial Intelligence (AI) to automate compliance processes.

In its fifth year, the Zurich Innovation Championship offers start-ups the opportunity to work with Zurich on solutions to key challenges within the insurance sector. In 2024, the competition’s categories were: Commercial Insurance, Digital Simplification, Life & Health, and Retail Property & Casualty (P&C).

Local Australian winner, Haast, uses AI to scan and monitor digital assets for compliance issues before and after they are published, enabling significantly improved productivity and reduced risk.

Shaneen Marshall, Chief of Technology and Strategy, Zurich Australia & New Zealand, said, “Investing in innovative, AI-driven digital solutions is critical for ensuring we continue to provide high-quality and efficient customer experiences.”

“The Zurich Innovation Championship provides an important avenue for us to support and propel startups and their groundbreaking solutions to customers and the broader community, whilst simultaneously driving Zurich’s local ambition to be Australia’s leading digital insurer,” Ms Marshall said.

Kunal Vankadara, Co-Founder of Haast said, “We are thrilled to have won the Australian round of the Zurich Innovation Championship and are excited by the possibility to elevate and scale our platform with the support of Zurich’s strong global presence and deep technological insight.”

The 2024 Zurich Innovation Championship attracted more than 3,300 applicants globally, confirming its status as one of the largest startup events in the insurance industry and the world.

Haast will now present to Zurich executives based in Switzerland against other winners from across the world. Two winners from each category will then receive up to USD100,000 in funding and enter a four-month accelerator program to test their solution on desirability, feasibility and viability.