Chubb has been focusing on using artificial intelligence, cloud, and blockchain to digitally transform its operations. The annual ICT spending of Chubb was estimated at $1.6 billion for 2021. A major share of this spending is earmarked for acquiring ICT services, consulting, and hardware from vendors. Chubb is a property and casualty insurance company. The company offers personal accident and supplemental health insurance, commercial and personal property and casualty insurance, life insurance, and reinsurance products to a range of clients. The company serves individuals, SMEs, large corporates, multinational corporations, and affluent and high-net-worth (HNW) individuals.
The Chubb Digital Transformation Strategies report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. The information included in these reports is sourced from a mix of our very own internal database and authentic secondary research links such as the company’s annual report, presentations, press releases, etc. The report covers an overview of the company, its digital transformation strategies, technology focus areas, accelerator and incubator programs, technology partnerships, technology introductions, investments, acquisitions, and ICT spending among others.
Digital Transformation Strategies
Chubb is exploring IoT sensor technology to shift from a “repair and replace” to a “predict and prevent” model. It has partnered with tech vendors to deploy IoT sensors in policyholders’ homes and businesses to help with claims assessments and risk management. Chubb has also deployed drones and unmanned aerial vehicles to assess commercial risk, conduct roof inspections, and capture images of areas hit by natural calamities.
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Chubb Technology Theme Focus
Chubb is utilizing several emerging technologies including artificial intelligence, cloud, and blockchain among others to develop products that enhance the digital experience for its customers and improve its operational processes.
Chubb Technology Focus
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Chubb Technology Initiatives
Chubb has been involved in several strategic technology partnerships and collaborations, technology developments and roll outs, and technology investments and acquisitions over the last few years. For instance, in 2018, entered into a partnership with HSB to install IoT devices in its policyholders’ homes and businesses The IoT devices come with sensors that can detect water leaks and monitor variations in temperature, humidity, water pressure, and vibrations, automatically sending alerts to homeowners and thus helping them prevent their home from suffering damage.
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Chubb ICT Spend by Function
- Data center
- End-user computing
- ICT Service desk
Total ICT Spend by Function, 2021
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Chubb ICT Spend by Channel
- Internal development and maintenance (IT staff)
- Technology vendors (direct)
- Local resellers
- ICT services providers/consulting firms
- Specialist outsourcers
- Systems integrators
Total IT Spend by Channel, 2021
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Chubb External ICT Spend by Segment
- Software (including Cloud SaaS)
- Hardware (including Cloud Iaas)
- ICT services
- Network and communications
External ICT Spend by Segment, 2021
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Chubb Digital Transformation Strategies Overview
|Total ICT Spending 2021||$1.6 billion|
|ICT Spend by Function||Data Center, Communications, Network, Application, End-User computing, Management, and ICT Service Desk|
|ICT Spend by Channel||Internal development and Maintenance (IT Staff), Technology Vendors (Direct), Local Resellers, Telcos, ICT Services Providers/Consulting Firms, Specialist Outsourcers, and Systems Integrators|
|External ICT Spend by Segment||Software (including cloud SaaS), Hardware (including cloud Iaas), ICT services, Consulting, Network and Communications, and Others|
|Technology Theme Focus||Artificial Intelligence, Cloud, and Blockchain|
This report provides:
- Insight into Chubb’s technology activities.
- Insights of its incubator and accelerator programs.
- Overview of technology initiatives covering partnerships, technology introductions, acquisitions, and investments.
- Insights on each technology initiative including technology theme, objective, and benefits.
- Details of estimated ICT budgets.
Reasons to Buy
- Gain insights into Chubb’s technology operations.
- Gain insights into its technology strategies and innovation initiatives.
- Gain insights into its technology themes under focus.
- Gain insights into its various partnerships.
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Table of Contents
Table of Contents
Digital Transformation Strategy
Incubator and Accelerator Programs
Partnership, Investment, and Acquisition Network Map
ICT Budget and Contracts
Frequently Asked Questions
The annual ICT spending of Chubb was estimated at $1.6 billion in 2021.
The key ICT spending categories by function for Chubb are communications, data center, network, applications, end-user computing, ICT service desk, and management.
The key ICT spending categories by channel for Chubb are internal development and maintenance (IT staff), technology vendors (direct), local resellers, telcos, ICT services providers/consulting firms, specialist outsourcers, and systems integrators.
The key external ICT spending categories by segment for Chubb are software (including cloud SaaS), hardware (including cloud IaaS), ICT services, network and communications, consulting, and others.
The key technological theme in focus for Chubb are artificial intelligence, cloud, and blockchain.
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