On the latest episode of Risk Management: Brick by Brick, Jason Reichl is joined by Lyndsey Christofer, Executive Vice President of Construction and Real Estate and Hospitality (REH) Industry Practice Leader at Chubb. Lyndsey is responsible for leading a broad team of dedicated construction and REH underwriting and service specialists to deliver customized and innovative insurance solutions.
In this episode, Jason and Lyndsey discuss the exciting role of technology and automation in risk management, and how they factor into emerging areas in the construction industry. They further touch on coping with a reduced workforce, as well as how Chubb are committed to building strong client relationships.
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Client Relationships Should Not Be Forgotten
Often insurance companies get a BAD reputation.
They’re seen as not caring about their customers, and can even be viewed as completely leaving customers out of the entire process.
One company that has not fallen victim to that reputation is Chubb. In fact, they have the complete opposite: they're considered a consultative company.
According to Lyndsey, they have a multi-pronged approach that builds these client relationships.
Firstly, they are a very level organization. Even the most junior risk managers have access to the senior leadership teams, and there are constant cross-level dialogues for every team member. This means that any external clients can easily access whoever they need to speak to; they won’t be passed from level to level, it will be a direct transfer.
Secondly, they empower their risk engineering team, and take great pride in them. They constantly have them in direct communication with their clientele, often out on the ground with them. This fosters a true sense of understanding of the day-to-day of their clients’ organizations, allowing them to be proactive in their service delivery.
Lyndsey and her team are incredibly proud of their commitment to building client relationships, saying, “We really pride ourselves on fostering those relationships and being out in front, meeting with our clients, having stewardship meetings, inviting them to other industry events that we're hosting or that we're attending. Really just fostering that collaboration between them”.
We commend them for their commitment, and think we could all learn a thing or two from Chubb.
Emerging Challenges and Opportunities
Lyndsey says, “There's a lot of change going on in a really pretty dated industry, right? I mean, construction, I would say, has historically been fairly slow to adopt change, and that's changing fairly rapidly”. And we couldn’t agree more.
We are now seeing technology and automation being integrated into all aspects of construction, which is making the average risk manager’s life a bit easier.
It is so exciting to see the industry moving forward and it could not come at a better time, with the current workforce shortages we are facing. By integrating technology and automation, we are able to make up somewhat for the lack of a skilled workforce by building a more centralized approach.
To find out more about Chubb and the exciting role technology and automation are starting to play in risk management, tune in to this episode of Risk Management: Brick by Brick.
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