Zurich Insurance Group – AlphaChat

Overview of Zurich Insurance Group

• Zurich Insurance Group (“Zurich” or “ZIG”) is a leading multi-line insurer that serves customers in more than 215 countries and territories. With about 55,000 employees, it provides a wide range of property and casualty, life insurance products and services.

Overview of the Transaction

• Zurich is ramping up the transformation of its global business to meet the rapidly changing needs of consumers and recently launched a new unit to expand digital services worldwide and create an improved experience for its customers.
• AlphaChat’s conversational AI platform for customer service automation fits ZIG’s long-term tech vision.
• BCP has represented Zurich in its role of exclusive strategic and financial buy-side advisor for the acquisition of Alphachat by Zurich.
• Legal Advice: Cobalt (ZIG), Hedman (Alphachat). Financial DD: PwC (ZIG). Source Code DD (Black Duck). Tech and HR (Internal).

Importance of the Transaction

• As one of the largest insurance companies in the world with a diversified product range, ZIG can provide further validation for AlphaChat’s chatbot platform across many use cases, including customer-facing or internal customer process optimization.
• Additional tech development could potentially include other cutting-edge technologies (such as Robotic Process Automation, Cognitive Artificial Intelligence, and others).

Blu Capital Partners’ Role

• BCP acted as exclusive strategic and financial advisor to Zurich.
• BCP supported Zurich throughout the acquisition process from mapping targets in Eastern Europe in the chatbot vertical, to selecting the appropriate targets, negotiating transaction documentation on behalf of ZIG, as well as managing the M&A process up until deal closing.
• This transaction highlights Blu CP’s sectorial expertise in the Technology sector, as well as its advice in generating favorable outcomes for traditional corporates looking to integrate cutting edge technologies in day-to-day operations.