KUALA LUMPUR, 30 May 2024 – Zurich Malaysia proudly announces NalaGenetics as the local winner of the Zurich Innovation Championship (ZIC) 2024, further honoring them as one of the global ZIC winners. This prestigious program celebrates innovative solutions that streamline and enhance insurance processes, with a particular focus on local initiatives that hold the promise of global impact for the Zurich Group.
Initiated in 2018, the Zurich Innovation Championship has grown to become one of the largest open innovation contests in the financial services industry. Now in its fifth edition, the contest saw over 3,300 applications submitted globally within just four weeks. NalaGenetics captivated the judging panel, comprised of Zurich executive committee members, and emerged as one of the nine global winners, and one of the two in the Life & Health category. Their groundbreaking work in biotechnology, specifically their personalized care program augmented by genetic tests, positioned them as a standout in chronic disease management.
NalaGenetics’ innovative approach aligns seamlessly with Zurich Malaysia’s mission to leverage technology for transforming customer experiences and improving the accessibility and efficiency of insurance solutions. By addressing recent health and consumer trends, both parties aim to provide early risk identification and personalized care plans that promote healthier lifestyles and effective chronic condition management.
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Junior Cho, Country CEO/Head of Zurich Malaysia, expressed his excitement about collaborating with NalaGenetics. “NalaGenetics’ win highlights the incredible talent, innovation, and technical potential present in APAC. At Zurich Malaysia, we are dedicated to supporting initiatives that align with our mission to care for what truly matters to our customers and communities. Our collaboration with NalaGenetics aims to foster a more personalized healthcare approach, tailored to the evolving societal and customer needs.”
Levana Sani, CEO and Co-Founder of NalaGenetics, remarked on the win: “Winning the Zurich Innovation Championship under the Life & Health category is a testament to our dedication to enabling prevention through Nala Care, a program that includes genetic testing and post-test consultation. This recognition by Zurich underscores the demand for a long-term health partner that provides a personalized and proactive solution based on each person’s risk. We are excited to test the scalability of this program with Zurich in Malaysia, following early success in Indonesia.”
The Zurich Innovation Championship operates on a venture-client approach to engaging with startups. NalaGenetics will now enter a four-month accelerator phase, during which they will pilot the practical viability of their initiative and develop a comprehensive business plan in collaboration with Zurich Malaysia. NalaGenetics will receive up to USD 100,000 in project funding, alongside non-financial support such as coaching from Zurich executives and guidance from internal and external subject-matter experts.
The success of NalaGenetics in this championship is a significant milestone not only for the company but also for the biotechnology landscape in the Asia-Pacific region. Their personalized care program, which includes genetic tests, offers a transformative approach to chronic disease management. By providing early risk identification and tailored care plans, NalaGenetics is at the forefront of a shift towards more personalized and proactive healthcare solutions.
Zurich Malaysia’s commitment to leveraging technology and innovation in enhancing customer experiences is exemplified in their support of NalaGenetics. This partnership promises to deliver substantial improvements in chronic disease management, addressing both local and global health challenges. The scalability and adaptability of NalaGenetics’ program highlight the potential for significant impact across diverse healthcare systems and patient populations.
For more information about the Zurich Innovation Championship, please visit Zurich Innovation Championship.
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