Chubb Studio has been designed to offer the insurer’s partner firms with digital access to its variety of consumer insurance products
Chubb has launched a new global platform called Chubb Studio for simplifying and streamlining the distribution of its insurance products through its partners’ digital channels across the world.
The Swiss insurer said that the platform will let its partners in retail, e-commerce, airline, telecommunications, banking, fintech, and other industries add digital insurance options to their own products and services.
Chubb Studio has been designed to offer the insurer’s partner firms with digital access to its variety of consumer insurance products.
These include personal accident, residential and contents, supplemental health and life, mobile phone and travel, and also small business insurance, claims, and customer services.
Chubb chief digital officer comments on the Chubb Studio platform
Chubb chief digital officer and chief risk officer Sean Ringsted said: “Chubb Studio provides significant speed-to-market for our partners and offers a secure and scalable platform with multiple APIs to simplify the process. What once took months can now be accomplished in days.
“It’s what we call ‘insurance in a box.’ Chubb handles the insurance stuff such as underwriting and claims that is then digitally wrapped by Chubb Studio, allowing partners to rapidly deploy insurance solutions to their customer base.”
Ringsted added that the new platform offers a complete variety of integration options for partner firms, from a website to a widget to extensive in-path deployments.
Chubb Studio’s capabilities are said to have been built on the insurer’s digital strategy to strike distribution partnerships with major global brands. The company expects the new platform to help it build and take part in digital ecosystems that speed up insurance adoption, while boosting the customer experience for its partners.
Last month, the Swiss insurer launched an enhanced version of its MasterPackage for Technology Companies product in the UK. The product is a third-party policy designed for firms which develop or offer technology products, solutions or services.
The Swiss insurance group, which operates in 54 countries and territories, recently reported a net loss of $331m or a net loss of $0.73 per share for the second quarter of this year due to the Covid-19 pandemic.