Meet Veronica Somarriba, EVP, Technology Industry Practice Leader
Chubb’s dedicated Technology Industry Practice demonstrates the company’s investment in meeting the unique demands of this ever-evolving market.
The Practice has grown and evolved along with the industry into one of the largest industry practices at Chubb.
Veronica Somarriba, EVP, Technology Industry Practice Leader, took some time to discuss her experience and Chubb’s Technology Industry Practice.
Lightning Round
Years in the Industry & with Chubb: 36
Favorite travel destination: “I don't have a favorite, but I have visited more than 50 countries. I'm constantly looking for something new.”
Favorite book: A Hundred Years of Solitude
How she spends her weekends: “I play golf. I'm a huge movie buff. I like everything about wine, and I travel the world.”
Get to know Veronica
How did you get involved with the Technology Industry Practice?
I started my career with Chubb as a commercial property and casualty underwriter. I’ve been with the company for almost 36 years, and technology has always been a part of our portfolio. I decided to make technology my focus around the year 2000. I thought the industry was fascinating – it was dynamic, innovative, and in constant change. And think about what was going on in 2000. It was the dot-com era; technology was exploding, and we were watching the rise of the internet in real time. So, I spent a number of years working exclusively in technology and refining and deepening my level of expertise.
What keeps your work interesting?
It's the constant innovation. Technologies become “old” almost instantly and the landscape is always changing. In 2000, Amazon was just an online bookstore, Facebook and Google hadn’t yet emerged. We’ve seen revolutionary change in such a short period of time, and that evolution isn’t slowing. If anything, it’s getting faster!
What is the Technology Industry Practice’s top priority in 2023?
In the Technology Industry Practice, we are working hard to keep pace with the industry’s evolution. Keeping up with technological change is what allows us to provide new products and services around those changes. We’re always looking for new areas of opportunity and new areas of value creation, and those go hand-in-hand with a deep knowledge of emerging technologies and evolving risk profile.
What sets Chubb’s Technology Industry Practice apart from competitors?
There are a few things that set us apart. The first is the level of expertise we have at the point of sale. That expertise is an additional tool for every single one of our agents, helping them maximize their opportunities to enhance our clients' coverage, service, claims, and risk engineering solutions.
We also have the ability to create an integrated solution for customers, where all the different areas of Chubb come into play at once. So, say you’re a manufacturer that's selling communications equipment. We can sell you aircraft products coverage through aviation. If you have maritime exposures, we can handle it. We can handle E&O & Cyber as well as their other financial lines and wrap that around a P&C offering.
Further, we have similar expertise in North America as we have in our other offices around the world. Technology is multinational, and therefore the solutions we provide have a global flavor, but we can respond on a local basis.
