Baloise is on the lookout for new investment opportunities and partnerships which can help drive its digital transformation, a five-year strategy the Basel-based company coined «Simply Safe».

One such partnership has been sealed with Veezoo, as Baloise reported Tuesday. The spin-off from ETH Zurich provides the first communication solutions for companies based on artificial intelligence. The tool developed by Veezoo is able to visualize and analyze huge amounts of data within seconds, making it possible to take data- and thus factual-based decisions.

Launch of a Pilot

Baloise is starting a pilot project using the software over coming months to test data and involve all its business-related divisions. The insurer is hoping the cooperation will improve its operations.

The rapid and data-based decisions should ensure more effective marketing campaigns, a more efficient sales organization, lower reporting costs and most importantly, better customer service.

One of a Series of Deals

Baloise has already entered several partnerships with insurtechs, most recently with the French start-up Valoo, as already reported by finews.com. The insurer has set aside some 50 million francs to finance tie-ups with European, U.K. and U.S.-based startups, which have the potential for driving the insurer’s digital development.