News that Chubb is increasing its lifetime discount for clients and enhancing its commission offer generated significant interest from Riskinfo readers this week…
Chubb has increased its lifetime discount from 10% to 15%. The higher rate is available until 30 June 2024.
Chris Hand, Chubb’s General Manager – Distribution, says since the end of October last year, 45% of its new customers taking out an assurance extra or assurance extra business have benefited from its 10% lifetime reward discount.
“I’m thrilled to share we’ve increased the current 10% discount to 15% for all new business issued from 16 April through to 30 June 2024,” he says.
The firm is also enhancing its commission offering.
“I’m pleased to announce from 30 April we’re increasing our pendulum commission offering for new business to give you increased flexibility around how you’re paid and to support you to grow value in your business,” says Hand.
The changes will provide an increased up-front component when advisers choose either the 15%, 20% or 30% renewal option.
“This higher pendulum offering is further enhanced by our paying of renewal commission from month two,” says Hand. “We’ve also increased our disability income upfront rate and pendulum options.”
Hand says the changes reflects the ever-increasing importance of advisers to the firm.