Here are some of our successes with our partners.
Indonesia
Our Partner:An Online Travel Agent (OTA)
Business Challenge:Both Chubb and the OTA were keen to increase the premiums collected for the travel insurance product.
Our Solution:Used Price Testing to change the prices and monitor the results to reach optimal volume/margin trade off.
Increased premium per policy by 155%.
Korea
Our Partner: One of the top three credit card companies.
Business Challenge:To identify any untapped customer segments.
Our Solution:Applied Customer Analytics to identify those aged between 35-39, created a relevant insurance product and used Telemarketing as the sales channel.
Results:The response rate doubled and the Partner extended the pilot for two years.
Singapore
Our Partner: A global credit card leader
Business Challenge: The credit card leader wanted to reduce marketing cost and deploy new sales conversion tactics.
Our Solution:Chubb’s full-fledged Digital team transformed into the Partner’s marketing agency. Designed an acquisition strategy including content marketing, purchase path optimisation and retargeting.
Results:The Partner achieved 56% reduction in marketing cost, with cost per acquired policy 65% lower than before.
Taiwan
Our Partner: A leading telecommunications company
Business Challenge: The Partner aspired to enhance the customer experience for their subscribers.
Our Solution: To enable subscribers to receive faster service for handset repair by signing up directly to Chubb’s individual mobile phone insurance policy.
Chubb conducted more than 30 solicitation license training sessions for 6,000+ telco salespersons so that they could sell insurance products at the telco’s branches.
Results: The telco will benefit from ancillary income arising out of the one million new policyholders expected annually.
Chile
Our Partner: The second-largest bank in Chile.
Business Challenge: To take advantage of their vast reach and track record of selling insurance by partnering with an insurer who could handle distribution through multiple channels.
Our Solution: A 15-year exclusive bancassurance partnership, covering all life and non-life insurance products distributed through all bank channels: face-to-face sales in branch, direct telemarketing (inbound and outbound) and digital (website, mobile app & ATM).
Brazil
Our Partner: The largest digital bank outside of Asia, and the sixth largest bank in Brazil.
Business Challenge: To deliver affordable, customizable, easy-to-use, and easy-to-understand insurance products to customers for online distribution.
Our Solution: Selling a range of life insurance products via the bank's mobile app and starting with a quick, digital purchasing journey. Auto billing is integrated seamlessly with customers' digital banking accounts.
Thailand
Our Partner: Thailand’s premier retail bank
Business Challenge: To generate fee income and improve customer relationships by partnering with a global P&C insurer to provide products, analytics marketing plans and executions. And to sell Samaggi P&C Co as part of the transaction.
Our Solution: Chubb put together dedicated sales management team of 84 people who work full time on supporting the bank's non-life distribution activities and who work closely with the bank staff to identify distribution and new product opportunities. An additional 150 telemarketers have been recruited to widen distribution outside of the branches.
Results: Premiums and commissions both grew annually.
