Chubb announced the launch of Chubb Studio, a new global platform that will simplify and streamline the distribution of the company’s insurance products through its partners’ digital channels around the world. The platform enables Chubb’s partners in retail, e-commerce, banking, fintech, airline, telecommunications and other industries to add digital insurance options to their own product and service offerings.
Chubb Studio provides partner companies with digital access to Chubb’s extensive range of consumer insurance products, including personal accident, supplemental health and life, residential and contents, mobile phone and travel as well as small business insurance, customer services and claims.
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“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,” said Sean Ringsted, Chief Digital Officer and Chief Risk Officer at Chubb. “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. The new platform provides a full range of integration options for our partner companies – from a website to a widget to deeper in-path deployments.”
The capabilities of Chubb Studio build on the success of the company’s digital strategy to forge distribution partnerships with leading brands globally. Even before the launch of Chubb Studio, the company had more than 150 distribution partnerships globally. Four partnerships announced in the last three years alone have given the company access to more than 60 million customers in Asia and Latin America.
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“Retailers, mobile networks, banks and other companies are looking for ways to be vital, relevant and deliver a differentiated experience and more value to their customers,” Mr. Ringsted continued. “Chubb Studio offers our partners a simple and frictionless way to offer insurance within their ecosystems, providing them with a competitive edge in their respective markets. The combination of our product breadth, underwriting capabilities, claims service and global presence locally has given Chubb an unmatched ability to secure, service and grow partnerships with leading brands.”
As digital ecosystems continue to define economic activity and blur the borders between market sectors, insurance is a highly relevant product for nearly all B2C and B2B channels. Chubb Studio is helping the company to build and participate in digital ecosystems that accelerate insurance adoption and improve the customer experience for its partners.
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