Chubb Launches AI-Driven Optimization Solution for Embedded Insurance

Chubb Introduces AI-Powered Optimization Solution for Embedded Insurance

Chubb, a global insurance leader, recently unveiled a groundbreaking optimization solution powered by artificial intelligence (AI) during the Singapore Fintech Festival. This innovation is part of Chubb Studio, the company's dedicated technology platform aimed at enhancing distribution partnerships in the embedded insurance sector. With this solution, Chubb positions itself at the forefront of personalized insurance offerings.

By leveraging AI developed in-house, the new solution analyzes data to provide customized insurance offers right at the point of sale. This move aims to enhance customer engagement for Chubb’s partners and foster brand loyalty while ensuring measurable growth. Consumers will benefit from simplified, tailored insurance options presented through the platforms and applications they utilize daily, providing them peace of mind when needed most.

Sean Ringsted, Chubb's Chief Digital Business Officer, remarked, “The launch of the Chubb Studio optimization solution represents a significant milestone in our capacity to assist our digital distribution partners in better engaging their customers, improving conversion rates, and strengthening financial resilience with precisely tailored insurance offerings.” He further noted the combination of data-driven insights with Chubb’s diverse product range and extensive market expertise offers unique analytics and customized products that deliver tangible outcomes.

Chubb Studio empowers digital platforms around the world to easily embed insurance products into their customer journeys via APIs and SDKs. The new capability merges data insights, click-to-engage technology, and direct marketing strategies. These cutting-edge tools enable Chubb’s partners to present the most relevant products - such as mobile phone insurance, travel coverage, hospital cash benefits, and life insurance - through marketing campaigns tailored to the specific profiles of their customers.

Key Features of Chubb Studio’s AI Optimization Engine:

1. Personalized Recommendations: AI-based data identifies customer profiles and recommends products and engagement channels tailored to individual needs.
2. Click-to-Engage Technology: This frictionless method allows customers to instantly contact a trusted advisor via phone, video, or chat to learn about complex, high-value insurance products.
3. Flexible Integration Models: Chubb Studio offers three integration options - Chubb-supported, partner-supported, or hybrid - allowing partners to choose their preferred level of control and data sharing.
4. Data-Driven Insights: Performance data is analyzed in real-time, fueling the recommendation model to continuously refine and enhance insurance marketing campaigns.

“This latest innovation from Chubb Studio underscores our commitment to providing the most advanced technologies for the benefit of our digital partners and their customers,” added Ringsted. “The goal is to offer customer-centric experiences through precision, personalization, and innovation.”

For more details on Chubb Studio, visit studio.chubb.com.

About Chubb

Chubb is a leading global insurance provider, present in 54 countries and territories. The company offers a wide range of property and casualty insurance, health insurance, reinsurance, and life insurance to a diverse clientele. Chubb is known for its extensive product offerings, robust financial standing, and global operational footprint. Its parent company, Chubb Limited, is traded on the New York Stock Exchange (NYSE: CB) and is part of the S&P 500 index. The company employs approximately 43,000 people worldwide. For more information, visit www.chubb.com.