Oriental Insurance, a subsidiary of OFG Bancorp, has announced the launch of a new personal accident insurance product in collaboration with Chubb Insurance Co. of Puerto Rico.
This new product aims to provide customers with digital tools that streamline the process of quoting and purchasing insurance, according to InsurTech Insights.
By integrating these tools, Oriental Insurance seeks to make the insurance process more accessible and convenient for its users.
The new personal accident insurance product, available online via Chubb Studio, offers coverage of up to $75,000 in the event of accidental death.
Additionally, it includes provisions for funeral expenses, ambulance services, and coverage for broken bones. This comprehensive coverage ensures that customers have the necessary support in critical times.
The product’s digital nature allows customers to carry out the entire process from any computer, tablet, or cellphone. This ease of access means that policy information is available immediately after completing the process, enhancing customer satisfaction and experience.
Ivelisse Valentín, director of insurance at Oriental, emphasised the convenience of the platform, stating, “At Oriental Insurance, we seek to offer our customers digital tools that facilitate the processes when quoting or purchasing insurance. With this platform, customers will be able to carry out the process from wherever they want, whenever they want from any computer, tablet or cellphone. It’s an easy, fast and safe process. After completing the entire process, the customer will have the policy information immediately.”
Javier Méndez, vice president of Chubb, highlighted the importance of partnerships in expanding reach and promoting insurance culture.
He said, “Partnerships are essential to reach a broader audience. Incorporating digital insurance integrated into the transaction flow of companies like Oriental Insurance allows them to deliver personalized insurance adapted to needs, services and loyalty to their clients and Chubb to continue promoting the insurance culture in the country.”
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