The Chubb Group of Insurance Companies has developed an online system to make it easier for producers to procure professional liability and management liability insurance for private companies and nonprofit organizations.
Chubb DecisionPoint automates the submission process for agents and brokers working with small to mid-size private companies. Coverages available include crime, employment practices liability, fiduciary liability and miscellaneous professional liability.
Small to mid-size nonprofit organizations can access all those coverages, as well as directors and officers liability. Chubb will add D&O coverage for private companies to the system in 2012.
If brokers and agents have more complex risks, the online system will let them refer these accounts to a Chubb underwriter for further review.
Chubb developed this to make it more time efficient for brokers and agents seeking coverage for their small and mid-size companies. Traditionally, this has included a labor-intensive process, but the carrier has worked to slim this down.
“Chubb DecisionPoint saves agents time by asking only a handful of key qualifying questions and, for eligible accounts, immediately providing a bindable quote and a completed application ready for the customer’s signature,” said Michael Maloney, senior vice president and senior customer group manager for private company/not-for-profit specialty insurance for Chubb.