Chubb vs Tivly: A Comprehensive Review for Small Business Insurance

As a small business owner, choosing the right insurance provider is crucial for protecting your company's future. Let's compare two notable players in the commercial insurance space: Chubb, a traditional insurance carrier, and Tivly (formerly Insureon), a digital insurance marketplace.

Chubb: The Established Insurance Giant

Financial Strength and Market Position

Chubb stands as the largest publicly traded property and casualty insurance company globally, with its core operating insurance companies receiving an "AA" (Very Strong) rating from Standard & Poor's and an "A++" (Superior) rating from A.M. Best [1].

Global Reach and Experience

Chubb operates in 55 countries and territories, serving a diverse clientele that includes:

Multinational corporations
Local businesses
Individual clients
Reinsurance seekers

The company provides comprehensive coverage including commercial property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance [1].

Financial Stability

As of recent reporting, Chubb demonstrated substantial financial resources with:

$174 billion in assets
$30.8 billion in gross written premiums
Approximately 31,000 employees

Tivly: The Digital Insurance Marketplace [1]

Platform and Services

Tivly operates as an independent marketplace for online delivery of small business insurance. As the largest digital agency for small and medium-sized businesses, they offer policies from leading carriers, including:

Chubb
The Hartford
Liberty Mutual
Travelers
Acuity
Hiscox

Accessibility and Coverage [2]

Key features of Tivly's platform include:

Digital quote comparison capabilities
Online coverage purchasing options
Licensing in all 50 states
Specialization in various industries, from IT to restaurants
Over 1 million policies written

Recent Developments [2]

In a significant business move, Tivly underwent a two-way acquisition:

Hub International acquired their digital agency and brand
Bold Penguin purchased their technology platform

Making Your Choice [2]

When deciding between Chubb and Tivly, consider these factors:

Direct vs. Marketplace Approach

Chubb: Direct insurance provider with professional liability insurance and other specialized coverage options
Tivly: Marketplace platform offering business owners policy options from multiple carriers

Coverage Options

Both providers offer essential business coverage including:

Business Model Differences

It's important to understand that Tivly operates as an insurance broker, acting as an intermediary who sells, solicits, or negotiates insurance on behalf of clients. This differs from traditional insurers like Chubb, as brokers typically negotiate with multiple insurers while insurance companies directly underwrite policies [3].

Recognition and Awards

Tivly has received several industry accolades:

Insurance Business America's Hot 100 list recognition
5-Star Insurance Technology Provider Award
Named among Best Places to Work in Insurance
Listed as one of the Best Insurance Companies to Work for in the USA

Conclusion [2]

Your choice between Chubb and Tivly may depend on your specific business needs:

Choose Chubb if you:

Value working directly with a highly-rated insurance carrier (AA/A++ rated)

Prefer established relationships with a single insurance provider

Need specialized or complex coverage options [1]

Choose Tivly if you:

Want to compare multiple insurance quotes online

Prefer a digital-first insurance shopping experience
Value flexibility in choosing from different carriers

Remember that both options can provide comprehensive coverage for your business, but their approaches differ significantly. Consider consulting with insurance professionals and comparing quotes from both sources before making your final decision [2].