Dawn Miller, Senior Vice President of Chubb, Speaks to the Strides Chubb is Making With Technology In Order to Access SMEs During the SME Finance Forum 2018
During the Global SME Finance Forum 2018, Dawn Miller, Senior Vice President of Chubb, elaborates on the powerhouse potential of SMEs and the number of challenges they are facing. She also shares more on the progress Chubb is making as they reach SMEs through technology.
Miller said, “SMEs comprise 90 percent of the world’s businesses. [After] drilling into that data, you find out it’s only 10 or 15 countries that hold the bulk of those businesses globally...It’s a difficult place to figure out where to start. [Due] [to] the breadth and spread out nature of those SMEs and the diversity of their businesses, likely you need some technology to reach them in the most efficient manner.”
"We [insurance industry] are making great advances and Chubb is certainly leading the way. [We] [are] creating those digital tools and digital platforms, aligned with our partners to access those SMEs.”
When asked how can ‘Insure Tech’ improve insurance, Miller says that until recently, insurtech has been solving one issue at a time, such as a back-office platform, payment system or intake system for submissions. But she adds that "Now we are seeing insurtechs align with each other and provide end-to-end solutions. You have many emerging markets where it isn't about the bank account, people have cash. How can you move that cash and how can you align it to pay your insurance premiums so that your most treasured assets, related to your family or business are covered? And that's where insurtech is coming around."
More than 600 attendees represented 208 institutions and 80 countries at the Forum. See event highlights, testimonials, other expert interviews, 13 TechPitches, session presentations and a recap of the Study Tour to 12 innovative financial institutions on the event website: https://globalsmefinanceforum.org/2018/