Interview with Stephane Baj
Stéphane Baj, Regional Director of Accident and Health in Europe, explains what his team can offer Cornerstone brokers.
Accident and Health is a particularly competitive space – and especially the middle market segment. What makes Chubb’s offering stand out from competition?
We want our A&H propositions to really stand out from the competition. To achieve this, our strategy is based on four key pillars:
These elements require constant attention to ensure that we continue to provide superior products, support and service. We strive to build, enrich and consolidate our expertise across all levels, to ensure we are the “go to” experts for Accident & Health and provide the first class service and support that our Cornerstone broker partners demand.
You mentioned the A&H team. Can you tell us a bit more about their skills and level of service they offer?
I am incredibly proud of our business development, underwriting and customer service teams and their combined capability. Across Europe we have nearly 300 dedicated Accident & Health specialists, who bring considerable knowledge and experience to the team. We have real strength at all levels, with dedicated A&H specialists available to deal with claims and our support units provide a smooth administration of our products and services. Working in collaboration with our wider sales and distribution teams across the region, we aim to provide seamless cross-business line support to Cornerstone brokers and their clients that is second to none.
One of our great strengths is that our teams are located in our offices right across the region, so brokers have A&H expertise on their doorstep. Being so close also means we can better understand the needs of brokers and their client bases and key prospects, while helping them with marketing campaigns to support the growth of their businesses. We also have a dedicated SME servicing team which we call Chub Easy Solutions.
Investment in technology was a big theme for Chubb last year. What do you have planned for 2017?
The insurance market and the world are changing rapidly. Increased volatility closer to home is becoming the new norm. The impact of events such as recent terrorist attacks in Brussels, France, Sweden and the UK means that insurance needs to offer more than quality wordings and coverage. At Chubb, we want to lead from the front when it comes to responding and embracing these trends.
Later this year we will be enhancing our renowned employer duty of care solution for business travellers, Chubb Travel Smart. Travel Smart already includes three valuable tools – online pre-travel risk training; a smartphone App providing on the ground support for employees; and an online dashboard for risk, HR or security managers that enables them to identify business travellers at risk and keep in touch with them via email or SMS. We plan to build on this with some great new features.
In addition to service improvements that are in the pipeline, we continue to strengthen our A&H corporate value proposition. This year we have already launched our new online quote and bind solution, Chubb Ignite, and we plan to add more products and extend this initiative to more countries in the months ahead.
We also have a new core group accident product, giving wider coverage and support to clients and their employees, extending traditional personal accident coverage to encompass key employee health concerns. For example, providing financial support should an employee suffer a critical Illness, such as a heart attack, stroke, or diagnosis of cancer, which we know are common concerns for employees. We back this up with a range of support services including expert second medical opinions and online health and wellbeing tools designed to help employees lead healthier lifestyles and prevent or reduce sickness, disease and absence.
How’s Chubb approaching the topic of “Big Data” and the need for more intuitive market segmentation?
This is area where we have already done a lot of work, and we continue to evolve. ‘Big data’ is changing how the market works, how product
development is done and cross-line business is facilitated.
For example, big data has enabled us to launch a new cross-selling initiative where we provide contract certain quotes for business travel accident cover alongside other business line renewals, if we see an opportunity and potential customer need. We have been able to do this as a result of some very clever analytics behind the scenes.
We are also thinking a lot about specific industry groups and segments, how their needs differ, and what we can do to cover these needs. We are already offering bespoke wordings and products that address different cover needs. In recent months we have rolled out bespoke A&H propositions for a range of industries.
For example, we recently launched a new proposition specifically for Life Science businesses, with additional protection for laboratory staff exposed to dangerous substances, such as bacteria, viruses, toxic materials, chemicals and gases. We’re also working alongside our life science colleagues within Chubb to include personal accident as part of a packaged solution.
We welcome dialogue with Cornerstone brokers on other bespoke product opportunities.
The Cornerstone brokers are clearly very important to Chubb, why is that?
We have worked with the Cornerstone brokers for a number of years now and the relationships we hold with them are vitally important to us.
We share a common ambition with them – to be the best at what we do. Because of this they tend to push for growth, which is good for their business but also for Chubb. This is why our partnership approach with them remains a strategic priority and why we have created a dedicated team of relationship managers to support and help them identify new opportunities to grow their business.
We work with them collectively but also independently of course. If we’re creating a new proposition we will develop it for that whole Cornerstone group in mind and give them exclusive access to it.
How can your team help Cornerstone brokers to overcome the challenges they face in the market?
Our strategy is to offer brokers solutions that add extra value for clients. Take Chubb Travel Smart, for example. This is a digital tool that allows companies to support staff who are travelling for work, or Chubb Worldview, which helps multinational corporate customers to manage all aspects of their global insurance programmes.
A&H account managers are allocated to each Cornerstone broker to help them sell our added value proposition. We want to work with all members of the Cornerstone group to build joint plans, attend client meetings and develop bespoke campaigns. And we are making it as easy as possible for them to issue our policies using our online trading platforms. These provide all the information they need about our products and make it simple to quote, bind and issue policies.
Lastly, what three things should Cornerstone brokers know about your A&H offering?
Firstly, Cornerstone brokers are key to our A&H strategy: we’re committed to working with them and developing solutions to help them grow and service their clients. Secondly, our new propositions will enhance our service capabilities to make it easier for Cornerstone brokers to work with us going forward. And thirdly, it’s not just corporate A&H insurance that we provide; we also offer a range of affinity and consumer solutions. So whether it’s for associations, educational groups or other organisations, we can help provide solutions in those areas too.
For more information on Chubb Travel Smart, take a look at our TravelSmart Brochure
Chubb has a group Cornerstone relationship managers dedicated to working with Cornerstone brokers. If you need to find out more about the service Chubb provides, they would be happy to talk.