WHITEHOUSE STATION, N.J., Jan. 26, 2021 /PRNewswire/ -- Chubb has launched its Chubb WorkInsightSM solution which integrates and streamlines absence management and workplace benefits for mid-size to large employers. The new single solution is made available through Chubb's Workplace Benefits division.
Chubb's new WorkInsight solution enables employers to proactively track and manage workers' compensation; Family Medical Leave Act; company specific leaves; short-term disability; and accident, critical illness and hospital indemnity programs. Chubb WorkInsight gives employers comprehensive data and reports that enable them to make informed and impactful decisions that benefit both employee and employer.
The announcement comes at a time when new concerns around employee safety, absence and productivity weigh heavily for business and human resource leaders. Employee absenteeism and productivity represent critical and increasing priorities for employers. Productivity has been shown to decrease almost 30 percent due to employee absence, with more than 15 percent of payroll costs tied directly to absence. In addition, in 2019 employers paid $510 million to workers as a result of a number of ERISA complaints. According to the Integrated Benefit Institute, more efficient absence oversight and management has been shown to improve outcomes and compliance and deliver a return on investment by up to 15 percent.
"In today's environment, managing absence and workplace benefits is becoming increasingly complex," said Chris Martin, Division President of Chubb North America Accident and Health. "Our new WorkInsight offering is truly a unique approach in the marketplace. Our streamlined solution benefits employers and their employees by offering one partner on one platform all in one place. WorkInsight demonstrates Chubb's ongoing commitment to helping employers reduce cost, mitigate financial risk and, at the same time, provide a state-of-the-art claims experience for employees."
Chubb's new WorkInsight solution is designed to protect businesses, while improving employees' experience. Key benefits include:
Chubb WorkInsight is powered by ClaimVantage. For more information about Chubb WorkInsight, visit www.chubb.com/workinsight.
Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris and other locations, and employs approximately 33,000 people worldwide. Additional information can be found at: www.chubb.com.