Chubb Coaches to Develop Rainmakers
Chubb serves the insurance needs of property and casualty customers from some 120 offices in 27 countries around the globe. Chubb succeeds by establishing strong relationships with these independent agents and brokers, who place their clients’ business with Chubb underwriters. For much of the last decade or so, Chubb has been operating in soft market conditions. The issues Chubb faced are not unlike those facing other competitive businesses, such as new entrants to the market and undercutting of prices. Historically, the role of underwriter was a more passive one, receiving submissions from agents and then doing risk analyses and pricing. With soft market conditions, Chubb needed its underwriters to become more assertive business partners with independent producers to actively pursue business opportunities. To meet this need, Chubb partnered with Richardson Sales Performance to roll out the 'Rainmaker' programme, a one-on-one coaching programme tailored to the specific development needs of high-performing individuals.
The Chubb Talent Strategies Group develops underwriters’ acumen via its sales curriculum. The training has been highly utilized for the last decade; however the group wanted to improve upon the current programmes. To meet this need, Chubb partnered with Richardson Sales Performance to roll out the 'Rainmaker' programme, a one-on-one coaching programme tailored to the specific development needs of high-performing individuals. Participants were provided with a professional coach who works with them to develop specific competencies relevant to their jobs and career aspirations. Rainmaker was initially rolled out as an advanced, nominations-based sales development programme for underwriters and marketers. A second track for sales management development was created after the first year, tailored to underwriting, marketing, and field sales managers.