Zurich Insurance Asia Pacific has announced the appointment of Theo Pitsikas as Head of SME APAC, in which he will be responsible for leading efforts across Asia Pacific markets to strengthen the group’s presence within the Small to Medium Size Enterprise (SME) segment.

Due to the relatively low penetration in developing markets for SME in Southeast Asia, with only 15% of all Micro SMEs insured against natural disasters, Pitsikas will support Zurich to develop attractive SME offerings that reduce the protection gap and enhance the resilience of this vital business sector.

This will include the development of modular propositions tailored to specific segments with unique needs such as Micro SME and Trades, enhancing portfolio underwriting, and advancing platform innovation by working with business units to understand evolving market dynamics and user requirements.

A primary focus will be expanding Zurich’s SME footprint in the high-growth markets of India, Malaysia and Indonesia, as well as improving ease of selection and purchase using digital channels by working closely with in-country teams.

Pitsika will take over his new role from June 16, 2025, and he will relocate from Sydney to Singapore.

As Head of SME APAC, the executive will be reporting to Sean Walker, Head of Commercial Insurance & Chief Technical Officer, APAC, at Zurich, who commented: “Theo has been pivotal in growing our SME portfolio in Australia, where we have established a highly successful platform and SME proposition.

“SMEs are the backbone of Asia Pacific’s economies. However, they face mounting challenges in an increasingly complex risk environment – where climate volatility and economic uncertainty are compounded by fast-growing risks such as cyber threats and supply chain disruptions. Theo’s appointment is a strategic step forward as we accelerate plans to scale our support to this vital sector.”

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