Chubb Personal Risk Services (PRS) has launched Flood Insurance System, a new self-service platform designed to give agents quicker access to flood quotes.
Integrated with the Chubb Agent Portal and Masterpiece EZ Quote homeowners platform, this new platform will give seamless support to agent’s personal lines business for primary and excess flood and will provide quotes for low-hazard properties in under two minutes.
Agents will benefit from working directly with Chubb as a single point of contact for faster access to flood quotes and an enhanced user interface.
The system will be available across all US states where Chubb writes flood insurance.
“We made a significant investment to create an exceptional quoting and issuance process for agents and to ensure we can offer complete flood protection coverage options for clients,” said Louis Hobson, Senior Vice President of Chubb’s North America Flood Insurance Business.
Changing climate conditions have increased the frequency of flooding, including in many areas historically not prone to it.
While commonly associated with major weather disasters, flooding is also linked to less obvious events such as rain runoff, which can severely impact any location, Chubb explains.
Hobson added, “Standard home policies often exclude any surface water that enters your home. The most common cause of flooding damage isn’t linked to an extreme weather event – it can be as simple as rain runoff that accumulates too quickly.”
All properties are at risk from flooding regardless of their location, Chubb has recognized, and through its flood insurance it aims to give agents and brokers all the tools to help clients increase their protection against the risk of flood for their property and possessions.
The carrier provides customised limits that meet clients’ needs, whether its coverage that protects against flood or mudflow, with limits as high as $15 million. Coverage can start for as low as $500 a year.
