Chubb Expands Online Commercial Inland Marine System Capabilities; Offers Access to Wholesale Brokers
WARREN, NJ, February 1, 2010 - The Chubb Group of Insurance Companies has expanded its online commercial inland marine system used by agents and brokers
to quote, bind and issue insurance policies. The system, u.writer, now features broader underwriting parameters to permit more business to be processed online and can be accessed by Chubb-appointed
wholesale brokers as well as independent agents.
"The broader underwriting parameters are a value-added proposition for agents, brokers and customers," said Pat Stoik, vice
president, Chubb & Son, and Chubb's global commercial inland marine manager. "Commercial inland marine is a high volume
business that can be costly for agents and brokers to transact on a manual basis. For trucking and construction industry customers,
delays in obtaining certificates of insurance caused by servicing or regulatory issues can mean lost revenue when cargo can't
be shipped or construction can't be started. By expanding our underwriting parameters, even more of this business can now
be submitted through the u.writer online system. This saves everyone time, reduces cost per transaction and assures regulatory compliance."
Chubb introduced its online commercial inland marine system about 10 years ago. Agents and brokers use the system to quote,
bind and issue insurance policies for builders risk, contractors equipment and motor truck cargo. Business that is declined
by the system is sent directly to Chubb underwriters for additional review. Chubb underwriters can override the system online
to accept or decline the business. The new system enhancements were developed by Chubb's in-house information technology
"Our newly expanded online commercial inland marine system is just one more way that Chubb is demonstrating its commitment
to develop innovative solutions and make it easier for agents and brokers to do business with us," said Stoik.
The expanded u.writer system is an outcome of Chubb's Motivate + Drive + Deliver initiative. This corporate-wide initiative is aimed at building
on Chubb's successes by driving innovation throughout the corporation and delivering product and service opportunities that
respond to current and emerging customers' needs.
The member insurers of the Chubb Group of Insurance Companies form a multi-billion dollar organization providing property
and casualty insurance for personal and commercial customers worldwide through 8,500 independent agents and brokers. Chubb's
global network includes branches and affiliates throughout North America, Europe, Latin America, Asia and Australia.