Swiss Re set up a dedicated Corporate Partnerships team to centralise its most high-impact and complex corporate partnerships, coordinating the participation of multiple teams across the Group and steering relationship building.
When the team was set up in mid-2020, Swiss Re already had a framework agreement with Microsoft and joint ventures with Alphabet and Daimler in place. It has since deepened these relationships and signed several other partnership agreements. The team is now involved in over 60 projects with 17 strategic partners.
As technology continues to drive changes in consumer behaviour and needs, Corporate Partnerships is bringing new partners from the technology space into the insurance ecosystem. In 2021, the team collaborated with Amazon Web Services (AWS), which provides on-demand, pay-as-you-go cloud computing services to millions of customers, including fast-growing startups, large enterprises and leading government agencies. Building on their longstanding relationship – AWS is the cloud provider for iptiQ – Swiss Re and AWS are now working together to launch innovative solutions in the cloud computing space.
In 2021, the team partnered with Yara, a Norwegian chemical and agricultural solutions company and the world’s largest producer of fertiliser. Yara’s mission is to responsibly feed the world and protect the planet. The collaboration is focused on developing a range of new solutions such as risk solutions in the digital and sustainable farming space.
Corporate Partnerships also works with Ikano, an international group of companies active in banking, real estate, production, insurance, data analytics and retail within the IKEA group. The aim of the partnership is to help manage the risk of investing in the circular economy, such as recycling or sustainable waste management companies. These types of investments are typically difficult to insure and so Swiss Re and Ikano, with their shared vision for a sustainable future, aim to change this and thereby encourage growth in this area.
