Giant global insurer Chubb is on a mission to transform itself into a digital enterprise.
The company is making substantial investments in digital technologies including cloud, mobile, APIs, security, chatbots, analytics and data. The effort includes using digital capabilities to simplify products, analytics to improve customer experience, artificial intelligence to reduce underwriting and claims questions, and connections to the Internet of Things, such as water leak detectors to prevent and predict losses.
According to a December 2018 investor presentation, Chubb projects to grow sales over its digital channels by $500 million to reach $3.3 billion gross premiums written in 2019. That figure refers to digitally underwritten business from traditional distribution partners such as brokers and agents in all markets globally.
Chubb does not disclose sales targets for any business, including U.S. small business, and does not report revenue for U.S. small business. But Chubb’s digital transformation is clearly evident in its small business operations.
Chubb’s small business digital distribution strategy includes working with digital brokers like CoverHound, Bunker and…
