Using APIs, white-label offerings, widgets and landing pages, Chubb will leverage partnerships with organizations ranging from insurtechs to retailers to bring Blink to the masses. The brand’s first product, personal cyber protection, is available today, covering a range of pitfalls from cyber extortion to data and identity theft and more.
Coverages are also available on BlinkInsured.com, a landing page for the new brand, that lists coming products like sick pay, travel, gadget and pet coverage. However, Chubb thinks that it will have more success in its partnership approach for most sales and isn’t pushing the direct-to-consumer aspect as much at the outset, according to Laura Bennett, SVP of econsumer for Chubb in North America.
“Our view is that there’s great opportunity in being directly in the right place at the right time for an insurance product, so it feels like you’re solving a need at the moment,” Bennett says. “Partners are also looking for insurance products to enhance the relationships they have with their customers. If you are a tech company that focuses on cybersecurity, it might be a natural tie-in to offer this extra option.”
As more Blink by Chubb products come to market, the idea is to keep bringing consumers back for the coverages they need as their life changes — which Bennett likens to an ice-cream cone with scoops on top.
“We used focus groups and moderated interviews and large surveys, to understand and learn what matters most, focusing on millennials, who didn’t see that insurance today met their needs,” she says. “We learned that while there are great differences among this group, all agreed on looking for convenience and solving their needs directly.”
Bennett added that Chubb works with “some external startups not just for Blink, but Chubb in general;” however, she was unable to share which worked directly on Blink at production time.
Source: Digital Insurance
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