Chubb, a global property and casualty insurance company, has announced its expansion in marine insurance business in the Philippines and Malaysia.
This move will increase its footprint in marine insurance to 10 markets in Asia, including China, Hong Kong, Taiwan, Vietnam, Thailand, Singapore, Indonesia, Japan, Korea, Malaysia, and the Philippines.
In the Philippines, the insurer will offer a full range of insurance products and services, led by Jeanette Cebeda, Property and Casualty Technical Lines Marine and Surety Underwriter.
Meanwhile, Owen Poh has been appointed as Head of Marine in Malaysia to further expand Chubb’s marine business. Chubb’s underwriting strategy focuses on four pillars, which include cargo, logistics, marine hull, and fine art products and services.
The insurer’s suite of products in Asia includes shipment insurance, relocation insurance, multimodal freight liability insurance, and fine art products for private and corporate collectors.
Chubb has invested in its services, such as the Chubb CargoAdvantage® platform, a web-based marine cargo insurance quoting and issuing system, and experienced risk managers to deliver physical and contractual risk management services to all sizes of Asian exporters and transport operators.
The product suite is designed to support various segments, including SME exporters, larger clients with risk management focus, emerging pan-Asia logistics companies, local boat owners, and Asia’s art collectors.
According to Anthony O’Brien, Regional Marine & Fine Art Manager, Asia, Chubb, the insurer’s focus area is not only its product capabilities, but also offline services to complement its investments within the digital area.
Chubb has made significant investments in its products, services, and people and is already designing its next product for a growing recreation boat segment in Asia. – InsuranceNewsAsia.com