Business News: Chubb, Progressive, Travelers

Chubb launched a multi-line industry practice within its Major Accounts division, dedicated to providing innovative insurance products, industry-leading service and risk management solutions for best-in-class large risk transportation clients in the United States and Canada.

Chubb’s Transportation Industry practice provides a broad range of coverages and services to transportation companies with fleets in excess of 500 power units that are willing to utilize large retentions/deductibles. This includes truckers, bus operators, waste haulers, rental car companies, and airlines, as well as manufacturers and distributors with large vehicle fleets.

The formalization of this practice, with its experienced leadership and broad portfolio of product and service offerings, will help these types of organizations to take a more holistic approach in managing exposures that pose a significant threat to their businesses.

Leading the practice is David Brown, appointed executive vice president, Transportation Industry Practice, Major Accounts Division. He will manage a team of dedicated underwriters with deep industry knowledge and insurance expertise across multiple lines of business. He will be based in New York and report to Matt Merna, chief operating officer, North America Major Accounts Division.

Brown brings more than 28 years of underwriting and management experience in the large risk transportation segment to this new role. He most recently served as senior vice president and transportation practice leader for Chubb’s Global Casualty business unit, which he will continue to oversee as part of his expanded responsibilities. He joined ACE Group in 1999 as a casualty underwriter and was instrumental in formulating the transportation industry strategy that has been in place since 2000. In addition, Brown has held various management positions at Chubb, including, casualty underwriting manager in the New York Branch.

A new online platform launched by Progressive, HomeQuote Explorer, allows homeowners to quickly and easily compare home insurance quotes from multiple carriers to find the best option to protect their homes.

According to Progressive Customer Acquisition Leader, Dan Witalec, it offers accurate quotes within 15 minutes. He explained that easy to use steps prompt users to enter required information. He offered the example of roof type. While most homeowners don’t know they type of roof they have – gable, mansard, hip or gambrel – the tool providers photos of roof types to assist in identification.

Learn more about the faster and easier way to search for home insurance on HomeQuote Explorer.

The Travelers Companies, Inc. announced the launch of the IntelliDrive, a smartphone app that allows customers to better understand their driving habits and get auto insurance priced according to how they drive. Customers using the app, who drive safely, can save up to 20 percent and receive feedback that can help improve their driving and savings. The IntelliDrive app is now available in Minnesota and Nevada, with more states anticipated to be added later this year.

Travelers is partnering with TrueMotion, a provider of smartphone usage–based insurance technology, to implement the IntelliDrive app. Analysis of driving data from millions of trips by TrueMotion users shows that when drivers receive a score and tips about their actual driving behavior, they take steps to become safer drivers.

IntelliDrive will capture driving information for all enrolled drivers in the household for 90 days and determine an overall score. Renewal premiums will be based on that score. New customers receive up to a 5 percent discount for enrolling in IntelliDrive. To learn more, visit www.travelers.com/intellidrive.