Chubb announced that it is expanding its marine business in Asia. In the Philippines, the insurer is rolling out a full suite of insurance products and services. This will effectively increase Chubb’s footprint in marine insurance to 10 markets in Asia, comprising Korea, China, Hong Kong, Taiwan, Vietnam, Thailand, Malaysia, Singapore, Indonesia and Japan.
What are the changes in Chubb’s Asian organization?
The organization’s operations in Philippines are led by Ms Jeanette Cebeda, Property and Casualty Technical Lines Marine and Surety Underwriter. And to further grow its marine business in Malaysia, Chubb has appointed Mr Owen Poh Head of Marine in that country.
Chubb’s underwriting strategy focuses on four pillars: the delivery of cargo, logistics, marine hull and fine art product and service offerings. The suite in Asia include Cargo Plus insurance for importers and exporters, relocation insurance for individuals and their possessions, shipment insurance for parcel and express freight, multimodal freight liability insurance for transport operators and localised fine art products for private and corporate collectors.
The insurer has also made additional investments in its services, including the award-winning Chubb CargoAdvantage® platform, a web-based marine cargo insurance quoting and issuing system as well as experienced risk managers to deliver physical and contractual risk management services to all sizes of Asian exporters and transport operators.
The suite is designed to support segments, like SME exporters and larger clients with a risk management focus, emerging pan-Asia logistics firms, local boat owners, and art collectors.
What does the expansion mean for Chubb?
Anthony O’Brien, Regional Marine & Fine Art Manager, Asia, Chubb, said: “Beyond the product capabilities, a key focus area is the offline service to complement Chubb’s investments within the digital area. With the appointment of Jeanette and Owen, we look forward to delivering a high level of service to the local art, boating, transport and shipping communities.”
“We have made significant investments in our products, services and people but we have more to do in 2023 and beyond. We are not content maintaining the status quo as we are already designing our next product for a growing recreation boat segment in Asia.”