Chubb’s Integration Engine, Chubb Studio, Expands Tech Features, Growing Revenue and Increasing Value for Partners
Chubb unveils expanded Chubb Studio integration features; embedding insurance even faster and easier for Chubb partnersLISBON, PORTUGAL - Media OutReach - 2 November 2022 - Chubb announced that Chubb Studio®, the company's award-winning global integration platform, has introduced new features that can embed insurance into the digital environments of its distribution partners even easier and faster, while offering a seamless experience for customers. Chubb is the largest publicly traded property and casualty insurer in the world.
Announced today during the Web Summit conference in Lisbon, Europe's largest technology conference, the platform's three new next-generation features provide Chubb's distribution partners with access to: Chubb-developed software development kits (SDKs) that enable the company's partners to embed products and services natively within their apps; the option to add products and services from other insurance carriers, third-party or non-Chubb companies; and the BlinkSM by Chubb® experience, previously available only in the U.S., to other regions around the world.
Since the company launched Chubb Studio in 2020, the platform has been adopted by over 150 companies – including e-commerce, banks, retailers, mobility and other consumer businesses – providing these partner companies' customers with digital access to Chubb's consumer and micro-business insurance products.
Chubb Studio has been distinguished by its extensive library of application programming interfaces (APIs). Now, Chubb's digital distribution partners will also be able to access Chubb Studio SDKs on the platform. Created by Chubb developers, the SDKs will make the delivery of embedded insurance propositions easier and faster for partners. Chubb Studio SDKs will be available for iOS, Android and Web, with functionality that includes user experience flows, backend APIs and security handshakes. The SDKs will also allow partners to use their own branding and styling to deliver consistent and unique insurance experiences to their customers.
The Chubb Studio platform now supports multi-service partnerships, including with other insurance carriers. That means Chubb partners using Chubb Studio can embed insurance products and services from Chubb as well as from other third-party providers into their digital ecosystems.
This new capability provides partners with a single point of integration while facilitating transactions with Chubb or with other third-party back-office systems. This offers significant savings of time and expense for partners that want to offer their customers more choice, including a broader range of general insurance, life insurance or other market products or complementary services, such as telemedicine, on their website or app.
Additionally, a new customer experience has been added to the Chubb Studio platform called Blink by Chubb, the company's digital product design philosophy, delivered by Chubb Studio and focused on making the insurance process easy and effortless for both partners and their customers.
With the Blink by Chubb philosophy, simple and straight-forward insurance polices are pre-underwritten with customizable coverage options designed to meet consumers where they are today based on their lifestyle and protection needs. From the offer of an insurance policy at just the right moment to real-time, self-service capabilities, including streamlined claims payment processes, the Blink by Chubb experience is brought to market with Chubb Studio and exemplifies the foundation of Chubb's partnership value proposition.
"Chubb Studio has opened many doors to digital distribution partnerships across sectors and geographies, helping to drive growth and scale the footprint of our partner companies," said Sean Ringsted, Chief Digital Business Officer at Chubb. "These three new features will set the pace for others competing in the embedded insurance market. The integration technology and design-led approach provides our distribution partners with significant flexibility to embed insurance how they want and when they want, with even faster product launches. During every integration, we listened to our partners and designed this next iteration of Chubb Studio to not only exceed developer expectations, but also the expectations of customers."
Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE:CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris and other locations, and employs approximately 34,000 people worldwide. Additional information can be found at: www.chubb.com.