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COMPANY FILE
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Chubb Insurance Company of Europe
is part of The Chubb Corporation, a worldwide organisation
providing specialised insurance programmes to individuals
and a range of businesses through independent brokers.
Chubb focuses on commercial property
and casualty insurance and in insuring high-net-worth
individuals. It has over 130 offices worldwide and assets
of more than $35 billion. Worldwide premiums in 2004
were over $12 billion – with Chubb Europe accounting
for 10% of this – and net income was $1.5 billion.
Chubb Europe has around 1,200 employees
and an annual turnover of more than $1 billion. It operates
in 11 European countries, with its biggest markets being
the UK, Germany and France.
Good management information is the
lifeblood of any insurer and Chubb developed its European
Management Information Repository (EMIR) to improve
its management reporting. EMIR sources data from several
different databases in both Europe and the US. This
is restructured and consolidated using Infomatica’s
extract, transform and load (ETL) tool. Information
is then presented using Cognos analysis and reporting
tools, and the inhouse-developed Kio tool.
Using Cognos, managers across all
areas of the business have access to reporting and analysis
capabilities. The average EMIR user accesses the system
55 times a month and 93% of people trained remain active
users.
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Q: HAVING INSTALLED THE NEW REPORTING OPTIONS, HOW DID
YOU GET MANAGERS TO ACTUALLY USE THEM?
A: What we did upfront was to articulate that we were in
the business of cultural transformation – it sounds pretentious,
but it makes sense to us. We wanted to develop a culture where
reliance on good management information is central to what
Chubb is as a company.
We saw that communication about EMIR was incredibly important,
and our approach was like what you might get with a new Hollywood
movie – there were lots of different ways of telling people
about it. We set up an intranet site; we began showing prototypes
at management meetings; we sent out glossy newsletters across
Europe; and we worked with senior business people to get them
to get the message across. It’s a bit like the build-up to
King Kong, though we didn’t have plastic figures!
All this led up to the first training sessions where we got
20-30 very senior people together in London and showed them
that they could do things that they couldn’t do before. For
example, if there were losses, then I drilled down to where
those losses came from, to individual policies. I said, “I
did that as an IT person, imagine what you can do as insurance
experts”.
We didn’t let anyone use the system until they had had training
on it. People had already heard a lot about it so they would
look at it over other people’s shoulders, and people who’d
had the training would come to meetings with all these numbers
that others couldn’t get. So people would come to the training
sessions with an enthusiastic mindset. Then we always tried
to show them that they could do something they couldn’t do
before, using live data.
We have around 1,200 people across Europe and EMIR is being
used by 450 of them – a lot of people. These are managers
and junior managers across most parts of the business – underwriters
at all levels, and the people running the different countries
and departments, claims, actuarial and some financial and
accounting people, and people managing the operational and
services data entry teams.
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Conspectus 2006
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Copyright © 2006
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