WARREN, N.J. - When agents and brokers suggested that stories about losses are an effective way to illustrate the need for specific insurance products, the Warren, N.J.-based Chubb Group of Insurance Cos. listened.

Now, Chubb has developed “My Loss Scenarios,” an online sales tool that helps agents and brokers create customized, personalized professional and management liability loss scenario documents they can use to educate prospects and clients about potential losses and insurance.

“ ‘My Loss Scenarios’ is the industry’s first marketing tool that lets [agents] customize and personalize loss scenarios to reflect a company’s characteristics, such as size and industry type, in new, renewal and cross-sell situations,” says Judy Cook, vice president, Chubb & Son, and eBusiness manager, Chubb Specialty Insurance.
 
The tool includes an online library with more than 150 professional and management liability loss scenarios for private companies, not-for-profit organizations, health care organizations, financial institutions and professional service firms. Chubb says it plans to add scenarios to the library on a regular basis, including some on public companies and other types of businesses.
 
Using a five-step process, an agent or broker can gather loss scenarios—customized to the client’s business and exposure—into a document and then personalize the document with his or her contact information.

“The ability to personalize the loss scenario document means the client will remember who provided it,” says Cook.   

“My Loss Scenarios” is available to Chubb-appointed agents through @chubb, the company’s Internet site for agents, brokers and customers.
 
It is the latest addition to Chubb’s e-business toolbox, which was developed to help agents and brokers increase sales. Chubb also offers electronic applications and electronic signature capabilities for select professional and management liability products.

Source: Chubb Group of Insurance Cos.

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