Chubb has launched a digital platform for selling selected insurance coverages to “digitally savvy” consumers, primarily through affinity, company and digital broker partners of Chubb to their members, employees and customers.
The platform, Blink by Chubb, represents a new brand focused on delivering “easy, effortless and affordable insurance products.” The first product out of the launch is personal cyber protection, with others including sick pay, travel, life and gadget coverages planned.
The cyber policy is now available in 25 states. It offers $10,000 in cyber protection coverage for one household. Increased coverage limits can be purchased for extended protection for up to five additional households.
A Chubb survey revealed there is a significant gap between those who are concerned about personal cyber security (more than 80%) and those who have cyber insurance protection (just 16%).
Blink offers flexible, customizable coverage options. Policies are modular, and written in plain, understandable language.
Chubb says the coverages will be “crafted for consumers who are just beginning to identify their insurance needs and for those who know exactly what coverages they want.”
“Consumers will have the ability to select coverage options they need now, at their current stage of life, through brands they already love and trust,” said Laura Bennett, senior vice president of eConsumer for Chubb in North America. “Blink will appeal to consumer-savvy companies looking to create added value and increase customer loyalty through an insurance offering backed and sold by an industry leader like Chubb. Whether it’s an offer made alongside a purchase, or an integrated experience using Blink APIs, Blink reimagines how customers experience insurance in the digital world.”
Bennett said Chubb’s partnership approach allows it to connect Blink “where there are natural tie-ins for partner companies to offer their consumers an extra option while in purchasing other products and services.”
Also, while the products are paid for by the customer, employers can add them to their employee benefit packages.
Bennet said Blink is designed as an “end-to-end, do-it-yourself” consumer digital experience that is outside the carrier’s established independent agency quote and issue systems.
Among Chubb’s various digital platforms, Chubb Marketplace is a platform for agents that digitizes the underwriting and selling of small business products while also streamlining the process for small business customers.
The sale of products on the website is provided through Chubb Insurance Solutions Agency Inc.
“Blink is an exciting evolution for Chubb, allowing us to help ease first-time, or digitally-savvy, insurance consumers into the right coverage at the right time in their lives,” said Sean Ringsted, executive vice president, Chubb’s chief digital officer.
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