Policy translation feature powered by machine automated technology
WHITEHOUSE STATION, N.J., March 28, 2019 /PRNewswire/ -- Chubb announced several key improvements to its proprietary digital Worldview® platform, adding new features and improved functionality to better serve its multinational clients and brokers. The most notable of these enhancements is its new policy translation solution that is exclusive to Chubb and its current multinational customers.
"Chubb is dedicated to providing its customers and brokers with innovative resources to help manage their global risks," said Matthew Merna, Division President, Chubb North America Major Accounts. "As multinational businesses steadily expand around the globe, they face recurrent regulatory, compliance and legal considerations which continue to evolve. Chubb Global Services provides a suite of services that enables multinational customers to cut through many of the complexities surrounding the issuance of local policies, paying claims, and customizing programs and services worldwide, in a timely manner. Our new policy translation offering highlights our continuing commitment to service innovation."
Chubb has the ability through its global infrastructure to issue policies locally in its more than 625 offices worldwide. Many of these policies are required to be issued in languages other than English. The local policy translation service (available in Worldview®) is cutting-edge and enables multinational clients and brokers to quickly gain access to English translated versions of policies that were issued in another language.
The new translation feature is powered by machine automated technology that utilizes Optic Character Recognition software to perform the majority of the policy translations.
"Policy translations used to require a manual effort and took an inordinate amount of time and expense," said Mr. Merna. "However, this translation enhancement is now offered as a complimentary service to all of our multinational customers who purchase a Controlled Master Program through Chubb."
Additional Worldview Enhancements
Other enhancements to Chubb's Worldview platform include enhanced premium tracking functionality and proactive renewal insights. The improved premium tracking functionality for captive and deductible recovery programs now provides the status of all payments in a single view. This makes seeing and reporting when premium payments have been completed, quick and convenient – even on a global basis.
The enhanced reporting functionality provides users with a holistic view of activity across all programs, including an "upcoming renewals" feature to help avoid policy issuance delays. Reports are automatically delivered to users with insights for programs renewing within the next 90 days, including any specific requirements for activities and/or documentation that must be completed prior to policy issuance.
About Chubb's Worldview® Platform
Worldview® is an easy-to-use web-based platform that provides real-time access to Chubb's systems and expertise in one application. This award winning platform is the most powerful, effective and transparent tool of its kind in the industry, and it is available exclusively to Chubb clients and brokers.
Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, 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 (CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris and other locations, and employs more than 30,000 people worldwide. Additional information can be found at: chubb.com.