Chubb To Expand Its Marine Business In Asia

Chubb has announced the expansion of its maritime business in Asia.

The insurer is launching a comprehensive spectrum of insurance products and services in the Philippines. This essentially expands Chubb's presence in marine insurance to ten Asian markets, including Korea, China, Hong Kong, Taiwan, Vietnam, Thailand, Malaysia, Singapore, Indonesia, and Japan.

Ms Jeanette Cebeda, Property and Casualty Technical Lines Maritime and Surety Underwriter, leads the activities in the Philippines.

Chubb has recruited Mr Owen Poh as Head of Marine in Malaysia to help the company's marine business develop.

The underwriting strategy of Chubb is built around four pillars: cargo delivery, logistics, marine hull, and fine art product and service offerings. 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 are among the products available in Asia.

The insurer has also increased its investments in its services, including the award-winning Chubb CargoAdvantage platform, a web-based marine cargo insurance quoting and issuing system, and experienced risk managers to provide physical and contractual risk management services to Asian exporters and transport operators of all sizes.

The product suite is intended to serve a variety of markets, including SME exporters and bigger clients with a risk management focus, developing pan-Asian transportation organisations, local boat owners, and Asia's art collectors.

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 in supporting our existing and new distribution channels. We are not content maintaining the status quo as we are already designing our next product for a growing recreation boat segment in Asia."