Research paper
The language of insuring successful families and individuals
At Chubb, we are actively investing in ways to help our independent agents and brokers grow their business. It’s a partnership; we’re working together with you to help more clients get the protection they need.
The opportunity
We know that our agents and brokers do a good job of building relationships and converting prospects into clients. At Chubb, we are investing to generate more leads for you and help you market even more successfully, by suggesting ways to cut through the noise and effectively reach potential clients. People are bombarded by messages all day long, which is why we have invested in innovative language research to identify which words and messages cut through the clutter and create an emotional connection. Those are the ones that will help you tap into the largest growth opportunity in our industry—dislodging successful individuals and families from their current, standard carriers—by helping them realize the benefits of working with specialized experts: you and us.
What we found
What we found
We have significant room to grow together
9.4%
amount investiable wealth is up as of 2014, totalling %15.2 Trillion
10%
of U.S. households could be millionaires by 2021
85%
of affluent households and 75% homeowners insurance premium are still with standard carriers
8-10 million
households are underserved by standard insurerers and should be with independent agents and brokers
Source: Capgemini Financial Services Analysis, U.S. Wealth Report 2015, Spectrem Group's Market Insights Report 2017 and publicly available market premium data and U.S. census.
Who are our propects?
Who are our propects?
Meet Susan
- 40-year-old dentist from Orange County, CA
- 15 years with the same standard carrier
- $2.5 million replacement value of her new home
- Busy with building her practice and saving for her kids college
You likely have met many prospects like Susan, individuals who have the right assets, the right income, and insurance needs you are well suited to address. You do a great job of closing the deal when you get them to sit around a table with you. We’d like to bring more prospects for you to meet with and we continue to actively market to generate more leads for you.
But as you market to them directly, you may find that they are generally satisfied with their current coverage with a standard carrier and are bombarded with marketing messages. That means you’ll need a way to pique their interest, so they’ll want to explore what you and Chubb can do for them. Our research is here to help.
Our approach
To get the answers we needed, we partnered with Maslansky + Partners, a language strategy firm, and went right to the source. We started with agents sharing their ideas about what works best with prospects. Then we tested a host of different messages in regional focus groups to understand what language was emotionally engaging, credible, and motivating—and why. And then we conducted a nationwide survey to optimize and validate the insights.
Research
Read more about our research methodology
Phase 1
Our work began with significant input from independent agents who sell Chubb insurance and key internal stakeholders, leading to the development of a range of approaches for articulating the value of insurance from a specialty carrier.
Phase 2
We conducted regional focus groups in New York City, Chicago, and Seattle in March 2017 with more than fifty high net worth prospects currently insured by a standard carrier.
Phase 3
We took all we learned in the focus groups to create optimized messages that were tested further in a nationwide survey in April 2017 (n=800, MoE 3.46% at 95% confidence)
Watch our research story
Our commitment to your growth
Discover how Chubb is investing in our agents and brokers, and finding ways to connect with successful individuals and families so that – together – we can build our partnership and our presence in this marketplace.
Our research approach
Find out why the path to brand loyalty is through emotional connections, and how we plan to use our language research to help our agents and brokers dislodge affluent customers from standard carriers.
The opportunity
Learn why people are skeptical of insurance companies and how Chubb can help set you apart from the rest, with research-tested phrases you can use to capture mindshare and be more successful.
Key insights for our partners
Understand what to say and what not to say, to grow your business by truly connecting with successful individuals and families (spoiler alert: don’t call them “affluent”).
The bottom line
The bottom line
What we've learned
The new Chubb language
At Chubb, we are always looking for ways to improve the experience of our clients, give them more than they expected, and delight them at every transaction. The language study we conducted has also helped us to put our value proposition into words, reflecting what makes us special and what it means to be a Chubb client. This language has been tested thoroughly and will help you articulate our value proposition to your prospective clients and business partners. Simply put, it helps us say, “This is the kind of experience you get when you come to Chubb.”
Get the skinny on the new Chubb language
We look for ways to say yes.
We respond quickly.
Adjusters respond to claims within 24 hours, and, once approved, can issue payment within 48
We’ll do what’s right for you.
If you need a place to stay during repairs, we’ll arrange for a premium hotel, or find a similar type of home in your school district.
We look for ways to do more.
We help make sure you have no gaps.
You get comprehensive, not patchwork protection.
We look out for you.
You get a proactive partner to help prevent issues from happening in the first place.
You’re more than a claim. You’re our client.
Raise your expectation of what your insurer should deliver.
Resources
Resources
Agent Marketing Center
Agents and brokers are vital to Chubb’s success. To help you grow faster and more efficiently, we’ve created resource centers, tools, and programming you can use, and are actively investing in research and partnering with industry experts to share with you the best ways to understand and work with successful families and individuals.
