Michael Ho on Critical Illness and Whole Life Product
- Full Version
- The Products
- Corporate Culture
- On Sustainability
- About Digitization
- Corporate Citizenship
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Benchmark Sustainable Wealth Forum features Michael Ho, President of Chubb Life Hong Kong, leading Chubb Life since 2017 to one of the most preferred providers in Critical Illness and long-term protection products. This session is co-hosted by Roger Steel, the Managing Director and veteran expert juror, from Willis Towers Watson Hong Kong and Macau.
Award-winning products: ***Critical Illness – Embrace Care Critical Illness Protector ***Whole Life Product – Chubb Platinum Plus Insurance Plan
CARE WHAT CUSTOMERS CARE
The attentiveness to customer needs is key to how Chubb garnered the highest 5-star rating on both 1) Product Satisfaction for Critical Illness product and 2) Cost of products.
While some insurers see the quantity of illness coverage as a competitive edge, Chubb Life believes in less is more. “I guess the key question is not about how many, but really what do you need as a customer? ” With customer needs in mind, Chubb Life was the first to offer Critical Illness Premium Waiver for the family in the market. This extra protection extends even to the future children of an insured individual.
DIVERSE WORKFORCE, BETTER IDEAS
“Culture is a very fundamental and important element of corporate success.” Chubb’s journey to develop a deep understanding of its customers is rooted in a culture of diversity. “We have specific rules in terms of no discriminations and how we recruit people.”
A diverse workforce brings in various ideas, which leads to a better representation of multicultural clients.
COMPELLING NEED FOR LONG-TERM PROTECTION
“The pandemic actually makes a lot of people aware of protection needs.” Another offering of Chubb Life, the Whole Life Series, ranked 3rd in the Benchmark Insurance Quality Study 2020. The product is known for its focus on retirement and regular income stream. “People are becoming more aware that retirement is important, and therefore more inquiries are coming our way.”
SAILING FORWARD IN STORMS
“A lot of people are scaling back, but we move forward.” Simultaneously, the pandemic has been a hard hit for people from all walks of life. The underprivileged bear the brunt. Some businesses step in to ensure all voices are put at the table, and their needs are not forgotten. “We maintain our philosophy of trying to support the underprivileged group, and we continue to do it.” Chubb Life was one of the first to respond to COVID aid. Globally, the group has contributed 10 million to the pandemic relief fund. Locally, existing clients have been given additional COVID-related coverage free of charge.
COMMITMENT FOR THE FUTURE
“We are a strong believer, a believer in terms of the sustainability aspect, and hopefully, we can create a better world in the near future.” Alongside active participation in offering aid for the current crisis, Chubb Life has again demonstrated diversity by including our planet in its plan.
Chubb Life has acted on its belief by excluding new debts or equities against the principle of ESG in its investment profile. “We will not invest in new debts or equities in companies which generate more than 30 percent of their revenue from coal mining or energy production that deal with coal mining.” The group is also a member of the United Nations Global Compact, the world’s largest corporate sustainability initiative.
This episode is co-hosted by Elsa Pau, CEO of WealthAsia Group, and one of our industry veteran judges, Roger Steel, the Managing Director at Willis Towers Watson Hong Kong & Macau.