Chubb Limited CB is expanding its embedded insurance distribution through a new multi-year partnership with Currys, a leading omnichannel technology retailer in the United Kingdom. Under the agreement, Chubb will underwrite Currys' mobile phone insurance offerings, gaining access to customers purchasing devices through its retail and digital channels.
According to Fortune Business Insights, the global embedded insurance market is projected to increase from $176.35 billion in 2026 to $1.46 trillion by 2034, at a CAGR of 30.3%. This expansion reflects rising demand for convenient, point-of-sale coverage across retail and digital platforms.
The partnership offers two products: Mobile Insurance Lite, which covers accidental damage and out-of-warranty breakdowns, and Mobile Insurance Complete, which also protects against theft and loss. Both include access to Currys' 24/7 Expert Support. The collaboration combines Chubb's insurance and claims expertise with Currys' extensive retail reach, potentially improving customer acquisition and making coverage more accessible.
The development aligns with Chubb's broader embedded insurance strategy, supported by Chubb Studio, its technology platform that enables partners across retail, banking, travel and digital platforms to integrate insurance into customer journeys through APIs and SDKs. Embedding protection at checkout can simplify purchasing, improve conversion and create additional premium opportunities without relying exclusively on traditional distribution channels.
However, the partnership's contribution to Chubb's revenue and profitability remains unquantified. Its significance lies in strengthening Chubb's digital distribution capabilities and positioning the insurer to capture growth in embedded protection.
What Are Peers Doing?
The Travelers Companies TRV is also developing embedded-commerce solutions through its Personal Insurance business, while its broader technology strategy increasingly focuses on integrating insurance into digital workflows. It acquired Trov an insurtech with an embedded insurance platform that lets digital consumer brands offer coverage inside their own products.
Root Inc. ROOT is a technology insurance company with its core business being personal insurance, led by auto. The company has made embedded distribution a key part of its growth strategy. Its flagship program, Carvana Insurance Built with Root, an exclusive embedded partnership, has passed 0.2 million policies sold. The partnership provides an opportunity to generate additional policy sales and premium growth as Carvana expands its customer base.
Chubb's Price Performance
Chubb shares have gained 32.7% in the past year, outperforming the industry’s 15.7% growth.
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CB’s Valuation
Shares of CB are trading at a premium compared with the industry. Its trailing 12-month price-to-book value of 1.58X is higher than the industry average of 1.37X.
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CB’s Growth Projection
The Zacks Consensus Estimate for Chubb’s 2026 earnings per share (EPS) indicates a year-over-year increase of 16.4%.
The consensus estimate for revenues is pegged at $64.06 billion, implying a 6.8% year-over-year improvement.
The consensus estimate for 2027 EPS and revenues indicates an increase of 1% and 4.4%, respectively, from the corresponding 2026 estimates.
The Zacks Consensus Estimate for 2026 and 2027 earnings has moved up 4.9% and 0.8, respectively, over the past 30 days.
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CB stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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