Hyderabad : Chubb, a global property and casualty insurance company has said it is building a business services center in India to support its global insurance operations’ IT, digital and analytics functions.
Chubb’s new center will be located in Hyderabad and Bangalore and will employ technical professionals providing support in areas such as intelligent process automation, digital technology, data analytics and others such as catastrophe modeling and risk management.
The center will start operations this year with more than 100 positions and will increase the strength over the next several years.
The initiative converts technology, analytical and other quantitative positions currently outsourced to third-party vendors in India to full-time Chubb employee positions. These facilities supplement Chubb Digital Centers of Excellence for Business and Innovation already operating in locations such as Jersey City, Miami and Singapore.
“One of Chubb’s strategic priorities is to transform our company to be truly compelling in a digital age. To further advance our progress, we need internal talent capable of executing our digital technology and analytics work at the pace and scale that the business is now seeking. That includes building and expanding critical digital skills and expertise in data analytics, machine learning, quantitative sciences and intelligent process automation,” said Sean Ringsted, Chief Risk Officer and CDO – Chubb.
“By hiring and developing our own talent, we will have greater control over the capabilities and projects we are developing to enhance the experience for our customers and business partners, introduce innovative products, streamline processes and improve efficiency,” added Ringsted.
According to Julie Dillman, Chubb’s Global Head of Operations, the Indian talent will be an important complement to the existing teams in company’s regional technology delivery centers.
“Hyderabad and Bangalore have exceptional technical talent and provide us with an extended ability to hire technical professionals in an increasingly competitive environment,” said Dillman.
“We are excited to work with our local partners to build a pipeline of professionals who have critical skills and can drive innovation. These are high impact jobs for one of the world’s largest and most respected property and casualty insurance companies,” she added.
The center will hire talent for the new jobs through partnerships with local tech companies, academic institutions and others. To attract and acquire local talent, the NYSE listed company has partnered with India-based Tetrasoft -an IT consultancy firm and BRIDGEi2i – a contextual AI-powered analytics solutions provider.
In addition, Chubb said that it will work with T-Hub, an India-based public/private partnership involving the government of Telangana, three of India’s premier academic institutes and key private sector leaders. Both Chubb and T-Hub will work on solving business challenges through rapid innovation and market deployment.
Chubb’s new India-based center will focus exclusively on business support services for the company’s expanding technology and actuarial functions.