04 Executive Summary
Key Insights from your 2024 Survey include:
Peer Group Ranking (from 9 Markets)
Overall Ranking (from 17 Markets)
Out of 130 associates
What is going well?
Construction – Relationship manager Jeremy is quick and proactive to assist with a response
Corporate & Global Inwards – Chubb Marine team is very strong
Corporate & Global Inwards – Broad product lines and the ability to put down a higher capacity.
Corporate & Global Inwards – Underwriter authority / sign-off, although I do believe this has started to shift in recent times
Health & Community Services - Good coverage/value on accident and health policy
Health & Community Services - Supportive at trying to sort a solution for tricky placements
Health & Community Services – providing product information - specifically environmental liability
Placement – Multiple layers of Management involved in large client business opportunities
Placement – Can be more aggressive when it suits them
Power & Energy – wide range of products available, consistent
Profin – Generally speaking, coverage is broad and the claims servicing is excellent, the staff have great technical knowledge
REAC - Ability to do deals
REAC - Lead capacity provider and sharp rating
Resources – Combined Liability / IT Technology related programs
Areas for Improvement for Chubb?
Construction – Support internal team via resourcing to enable quicker response times and ability to consider more innovative placement structures/solutions for clients
Construction – Answer their phones
Corporate & Global Inwards – Chubb tend to have minimal negotiation room in price and cover until an alternate option is explored and will then come to the table last minute to retain business.
Corporate & Global Inwards – Improve claims performance, improve claims attitude, improve underwriting attitude, stop being sneaky with last minute (not communicated) changes, flexibility on existing programs
Corporate & Global Inwards – Responsiveness is poor. Rarely able to get underwriter to pick up their phone or respond to emails within the same business day. Always release terms last minute which puts a lot of pressure on broker as there are chances to miss reporting deadline.
Corporate & Global Inwards - Better Communication and Turn around times
Health & Community Services - having phone numbers on the bottom of their emails as very hard to get hold of
Health & Community Services - Consistent approach (i.e. strong approach to new business, however typically increase premium rates or reduce capacity/terms in future renewals)
Placement – improve response times on quotes / help us win new business
Power & Energy – Not a lot, maybe quicker turnaround
Power & Energy – Support internal team via resourcing to enable quicker response times and ability to consider more innovative placement structures/solutions for clients
Profin – more consistency in appetite, with some u/w's responsiveness
ProfIn - Their online broker portals are terrible (specifically Management Liability via Sunrise)
Profin – Improve both platforms, sunrise and marketplace
REAC – See them more in QLD
REAC – Flexibility considering the amount of business we write with them
Resources – Underwriting flexibility
Through 2025, let’s address these areas for improvement together – and keep building on your many strengths.
Peer Group
