In February 2021, Chubb, a global insurer with 34,000 employees in 54 countries, launched a digital insurance company designed to sell select policies, including personal cyber protection, to younger customers. We launched Blink as a platform. The platform has entered the market with rivals such as Nationwide and Swiss Re’s iptiQ, which have launched similar platforms. They’re all eyeing a younger customer base while competing with new digital insurers targeting the same demographic.
Chubb has yet to reveal how many customers Blink has. But the division has added several distribution partners since its inception, recently offering benefits of up to $2,500 per month when a person is unable to work due to injury or illness and their health deteriorates. launched Blink Paycheck, a new income protection product designed to doctor care.
Marshall, who became senior vice president and head of Blink in July, is focused on leading Blink to the next phase of the business.
“My job is to direct Blink’s strategy to take it to the next stage of evolution,” Marshall said.
Blink has so far paid a lot of attention to building its Blink Cyber product, now Blink Paycheck. It also focuses on “shaping distribution strategies and distribution channels, engaging partners and reaching where customers are.”
Prior to his current role, Marshall served as Vice President and Head of Distribution and Marketing for Blink and, prior to that, was Vice President of Business Development for Digital North America, Commercial Lines. He also had a leadership role in The Hartford and Travelers.
Today, Blink is sold in multiple ways, including direct-to-consumer sales and partnerships with Waffle and Hippo Insurance agents. With about a dozen partnerships to date, Blink by Chubb is aiming to double that number by the end of 2022, Marshall said. This includes a partnership agreement the company was due to announce at his Insuretech Connect 2022 in Las Vegas.
Partnerships are a particularly useful tool in today’s market, Marshall said.
“We did research early on, before Blink became known as Blink, to understand exactly what millennial buyers and digitally-savvy consumers wanted.” she said. “What they told us is that they don’t get up in the morning and say, ‘Let’s get insurance.’ It was that we were looking for an offer that was relevant, in context and would support a product or help with something they were already working on. It allows you to do multiple things in the buying experience.”
The platform itself is designed to be fully digital, from the customer initiating an insurance quote, to obtaining a policy online, to claiming using Blink’s self-service portal. The API is also a key technology element, designed for easy partner integration if they want to create their own user interface. Blink will also offer multi-tenant or co-branded experiences that partners can access, and Chubb will pass data from its partners to quotes, allowing certain customers to streamline their buying experience, Marshall said. I’m here.
Marshall explained that her main focus in the insurance industry has always been on sales and products. But in terms of technology, she quickly got used to it. This allowed her to be an ambassador for her Blink and the benefits and advantages of the technology it offers.
“It’s not just about buying policies and making claims,” says Marshall. “All these things are relevant, but at Blink we want to inspire the next generation by making them feel truly connected to the insurance experience throughout their journey, not just when something goes wrong. I think.”
Marshall added that he is a quick researcher and will help make the technology as relevant to consumers and partnership clients alike.
“What I bring to bear is this enthusiasm and focus on inspiring our partners to help inspire them to create insurance that gives consumers a similar experience to other retail products. It is,” she said.
As traditional insurers increasingly compete with insurtechs in digital delivery, who is the better messenger for digital insurance? , said they are both effective because they allow customers to have better access to insurance.
However, carriers like Chubb could be “the entity of choice” for digital cover, Marshall said.
“We are a more than 200-year-old company with proven world-class billing services,” said Marshall. “We have a clear understanding of how to manage our balance sheet and we are a proven company.”