FinTech Magazine October 2019 | Page 112

ZURICH INSURANCE GROUP
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I n many large organisations , the sourcing and procurement function is often overlooked . At Zurich Insurance , however , sourcing and procurement is becoming a driving force for innovation , customer value and sustainability , while playing a key role in enabling the business to fulfil its strategic objectives . When Jaime Paiva , Regional Head of Sourcing and Procurement EMEA , first joined Zurich in 2012 , the company was in the midst of outsourcing its procurement function . He explains : “ The retained procurement organisation was down-sized and predominantly responsible for managing the service delivery from our BPO partner . The model with the BPO was based on the services being delivered out of hubs and so we lost the proximity to our internal stakeholders .”

However , by the end of 2016 , the procurement team at Zurich started a full review of the model . “ Zurich was about to start a new strategic cycle and we wanted to ensure we were prepared to support our new objectives ,” recalls Paiva . Zurich ’ s Sourcing and Procurement leadership team decided to enhance the function ’ s capabilities in order to provide more support to the local business
OCTOBER 2019