SINGAPORE, Sept. 1, 2016 /PRNewswire/ -- Chubb today announced the launch of two enhanced group insurance products – Group Personal Accident (GPA) and Group Business Travel (GBT) – in Singapore.
As a global leader in personal accident and supplemental health insurance, Chubb understands the Duty of Care1 obligations faced by companies and organisations. In today's race for talent and the challenge of managing a diversified workforce, the ability to fulfil their Duty of Care obligations has emerged a key differentiator for home-grown conglomerates, Small and Medium-sized Enterprises (SMEs) and multinationals. Chubb's enhanced group insurance products incorporate improvements to help companies provide coverage that are relevant to their business and affirm their duties as responsible employers.
Some of these improvements include the broadening of entry and renewable age limits, as well as enhanced coverage for a wider scope of natural catastrophes, including the addition of eight events – cyclone, flood, landslide, tornado, volcanic eruption, windstorm, hailstorm and wildfire. Other than the above, the GPA includes an additional 20 benefits which can be customised for companies based on the needs of Singapore's discerning employers who value their human capital. For the GBT, the Chubb Travel App will enable business travellers to travel with confidence, providing them access to the latest security alerts, medical advice and 24-hour emergency assistance.
Glen Browne, Executive Vice President and Head of Accident & Health of Chubb Asia Pacific commented, "With in-depth knowledge of the Singapore business environment, together with our superior underwriting expertise, we have been able to introduce innovative group insurance products in a timely manner. In Singapore, there were approximately 13,500 workplace injuries reported in 20142. Singapore roads are some of the safest in the world but still clocked 149 reported fatal accidents in 20153.
We recognise that companies are managing a diversified workforce and their employees are working longer, travelling further, even to remote, frontier markets. The risk exposure that they face has become more complex as their corporate footprint expands internationally.
Accompanying the product enhancement is the efficient claims and service excellence for which Chubb is renowned. We strive to enhance the customer experience of our clients with the newly launched online Chubb Claim Centre, enabling employees to make their claims anytime, anywhere and using any device, allat their own convenience."
About Chubb in Singapore
Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at: new.chubb.com.
Chubb Insurance Singapore Limited, via acquisitions by its predecessor companies, has been present in Singapore since 1948. Chubb in Singapore provides risk management and underwriting expertise for all major classes of general insurance, including Property & Casualty, Marine, Liability, Financial Lines and Group Personal Accident insurance. As one of the leading providers of Accident & Health insurance through direct marketing, the company partners with financial institutions and other companies to tailor individual policies for their clients and employees. In addition, it offers a suite of customised Personal & Specialty insurance solutions to meet the needs of consumers.
Over the years, Chubb in Singapore has established strong client relationships by offering responsive service, developing innovative products and providing market leadership built on financial strength. The company has been assigned a financial strength rating of AA-/Stable and the highest ASEAN credit rating of axAAA by Standard & Poor's. It has also been awarded the Singapore Quality Class STAR (SQC STAR) and Singapore Service Class (S-Class) certification for achieving all-round business excellence and high levels of service respectively by SPRING Singapore, the national standards and accreditation body.
More information can be found at www.chubb.com/sg
1Chubb defines "Duty of Care" as the legal and moral obligations of employers to demonstrate that they have sufficient policies, procedures and monitoring in place to minimise the risks that employees may face while at work or travelling on business.
2 http://www.mom.gov.sg/workplace-safety-and-health/wsh-reports-and-statistics
3 http://www.police.gov.sg/news-and-publications/statistics
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