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Scouting for Growth

Joel Agard: Driving into Zurich Insurance’s Venture Client Engine

Scouting for Growth

Sabine VdL

Business, Entrepreneurship

51.8K Ratings

🗓️ 9 July 2025

⏱️ 51 minutes

🧾️ Download transcript

Summary

On this episode of the Scouting For Growth podcast, Sabine VdL talks to Joel Agard, Group Head of Innovation at Zurich Insurance, who has been driving bold, transformative startup collaborations across 40+ markets. His work has reshaped the way a global insurance giant works with startups, proving that innovation isn’t just about flashy tech – it’s about building real, meaningful partnerships that deliver results. From navigating the early days of Zurich’s Innovation Championship back in 2018 to scaling the program during a global pandemic – and now leading the charge into the future – Joel brings passion, strategy, and a touch of risk-taking to every conversation. KEY TAKEAWAYS The football World Cup in 2018 inspired us to piggyback on the concept of a competition to try and raise awareness of corporate/startup partnerships. Back then, working with startups in our industry wasn’t the norm, we were working with big technology companies. We asked ourselves; how can we show the art of the possible and show that working with startups can really work? This is when we invented the Zurich Innovation World Championship. In the beginning the pace that startups wanted to – and could – go didn’t always resonate with the pace Zurich wanted to go. We had to align expectations and create a safe environment where we could test fast and where it was OK to fail. I’ve fallen in love with cool technologies so many times, and I still do: I’m a geek. But, we had to learn that if these shiny, amazing technologies don’t really solve a problem for our customers or internal stakeholders, it’s not fit for purpose for us. It might be that it’s too early or is not a good fit for us. BEST MOMENTS ‘We at Zurich bring our reputation, brand, and insurance expertise from 150 years. Startups bring agility and speed because they are born in a digital world.’ ‘Failing in a big corporate often doesn’t have a good image. We’ve proved that failing fast and cheap is something we can achieve and is beneficial for the startups. It’s now a normal part of our process.’ ‘The Covid pandemic accelerated digital transformations, there were a lot of opportunities out there to accelerate our initiatives, so increased the number of startups, pilots.’ ‘It’s crucial to understand the gaps and problems you want to solve because we’d be wasting each other’s time otherwise.’ ABOUT THE GUEST Joel Agard is Group Head of Innovation at Zurich Insurance. With a career dedicated to fostering groundbreaking solutions, Joel spearheads Zurich's Venture Client Startup Engine, a program that drives innovation across 40+ markets worldwide. His work focuses on bridging the gap between startups and corporate needs, enabling Zurich to leverage cutting-edge technologies and solutions to stay ahead in the ever-evolving insurance landscape. LinkedIn Zurich Innovation Championship ABOUT THE HOST Sabine is a corporate strategist turned entrepreneur. She is the CEO and Managing Partner of Alchemy Crew a venture lab that accelerates the curation, validation, & commercialization of new tech business models. Sabine is renowned within the insurance sector for building some of the most renowned tech startup accelerators around the world working with over 30 corporate insurers, accelerated over 100 startup ventures. Sabine is the co-editor of the bestseller The INSURTECH Book, a top 50 Women in Tech, a FinTech and InsurTech Influencer, an investor & multi-award winner. Twitter LinkedIn Instagram Facebook  TikTok Email Website This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/

Transcript

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0:00.0

Welcome back, listeners to another exciting episode of Scouting for Growth. Today we are diving into a topic

0:24.1

that is close to my heart, innovation, startups, and the magic that happens when you combine them

0:31.4

with a forward-thinking industry leader. Now, in case you didn't know, this market is booming. Venture clanting is projected

0:40.0

to grow exponentially with corporate innovation investments estimated to exceed $150 billion globally

0:48.8

just by the end of this year. And at the helm of this transformation is my guess today, the brilliant

0:56.8

Joel Aged God. Joel is not just a pioneer of innovation, is what we would call a true

1:04.2

venture clanting maestro. You can look at this number in two ways, right?

1:11.2

If a corporate runs a venture client program, collaborating with 50 startups annually, and

1:18.5

the average contract value per startup is $500,000, this alone represents a $25 million annual market for that corporation.

1:31.3

Then, if 10% of 14,500 companies adopt venture-clanting programs and allocate an average, let's say,

1:40.3

of $10 million annually to these initiatives, this would represent a $5 billion market annually.

1:50.0

Now, reading a recent report on venture clienting from Gregor Grimmie, well, there is 195

1:58.1

companies already working on these initiatives. So, alongside Zurich

2:03.2

insurance, indeed companies like Bosch and BMW, I've deployed the model and many have been

2:09.3

scaling these programs, including adoption across industries such as automotive insurance

2:15.3

and manufacturing.

2:23.0

So reverting back to Joel, the group head of innovation at Zurich Insurance.

2:30.8

Joel has been driving bold transformative startup collaborations across 40 more than that markets. His work has shaped the way a global ancient giant works with startups proving

2:37.3

that innovation isn't just about flashy tech, it is about building real, meaningful

2:42.7

partnerships that deliver results.

2:46.5

From navigating the early days of Zurich Innovation Championship back in 2018, actually, to scaling

2:53.3

the program during a global pandemic and now leading the charge into the future, Joel

...

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