Chubb announced a new report, “Digital Business Accelerated,” which explores how small and mid-sized businesses are approaching an evolving, digital-first marketplace – a transformation made all the more critical by COVID-19.
The report features survey research, fielded in collaboration with Accenture, which identifies four trends that small and mid-sized businesses are pursuing when it comes to their digital transformation, including navigating digital-first communication, harnessing the power of data, supporting a transformed workforce and playing in the global marketplace.
Specific digital business priorities and associated risks among the four themes include:
— Digital-first communication: approximately half of the respondents are focusing on seamless on-demand delivery of products and prioritizing tailored products and services that meet the needs of multiple generations (45% and 46%, respectively);
— Harnessing the power of data: adopting cloud technology is the top priority for businesses today. Looking ahead, 75% say investing in AI is their top three-year priority;
— Supporting a transformed workforce: businesses are prioritizing the development of new technology capabilities and skills among employees—both over the next 12 and 36 months; and,
— Thriving in the global market — organizations are pursuing opportunities to collaborate with large commercial players and social platforms in the short- and long-term.
To learn more about the report and how small and mid-sized businesses can assess their new digital business risk exposures and insurance needs, visit chubb.com/digitalbusiness/na.
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.