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Chubb, a division of Chubb Limited, is a property and casualty insurance company. The company offers personal accident and supplemental health insurance, commercial and personal property and casualty insurance, life insurance, and reinsurance products to a range of clients. The company serves individuals, SMEs, large corporates, multinational corporations, and affluent and high net worth individuals. It distributes products and services through a network of offices, independent agents, general agents, brokers, and direct marketing.
Its personal business lines offer insurance coverage for homeowners; personal accidents; debit, credit, and loyalty cards; supplemental health; travel; critical illness; and life. Its commercial business line offers insurance products for casualty, cyber, energy, fidelity, life science, marine, property, terrorism, construction and erection, machinery, electronic equipment, and more.
This report explores Chubb’s digital transformation strategies. It also provides extensive insight into its technology initiatives, covering partnerships and product launches. In addition, the report includes details of the company’s estimated ICT budget for 2020.
- In September 2019, Chubb announced the establishment of business services centers in India. The centers will provide support to the company’s global insurance operations, including IT, digital, and analytics.
- Chubb is utilizing artificial intelligence (AI) and robotic process automation to improve operational efficiencies and reduce back-office expenses. It aims to achieve over $500m in savings by 2023 by eliminating redundant and low-priority tasks using these technologies.
- Chubb is creating new revenue distribution channels to sell its digital products direct to customers as well as via partners and brokers. Through this approach, the company aims to achieve $200m in gross written premiums in 2019.
Reasons To Buy
- Learn about Chubb’s fintech operations, including investments, product launches, partnerships, and acquisitions.
- Gain insight into its fintech strategies and innovation initiatives.
- Discover which technology themes are under the group’s focus.