Could you share an example of a time when you came up with an innovation that improved how your legal team works and did not come at a large expense?  

The recent regulatory changes have caused the team to engage with the business to develop novel and innovative ways to ensure the Chubb’s obligations as a financial services provider are understood and met, while the business objectives and the organisational focus on the customer are not just maintained but strengthened. As a result of the changes, the legal team has led several business-wide product and process changes as well as training and development sessions; playing an active role in ensuring business stakeholders take ownership and responsibility for the compliance of products and arrangements which they manage. The approach taken has seen an increase in referrals of matters to Legal demonstrating the increased awareness and engagement of the business on these critical regulatory matters.  

Further, though the Chubb legal function casts a regulatory eye over all matters it provides advice on, the creation of a specialised regulatory function within the team has allowed us to keep abreast and ahead of the upcoming regulatory changes with a view to readying our policies, systems, and processes in advance of such changes. 

During my time in the Chubb legal team, I have been involved several implementation projects aimed at streamlining the way the legal team takes its instructions and provides advice to the business including through the introduction of a centralised in-house legal briefing system allowing business collaborators to have access to shared matter files, the provision of targeted external training sessions and raising awareness of Chubb information security processes. 

What are the most significant cases or transactions that your legal team has recently been involved in? 

As a large property and casualty insurer, Chubb is often involved in high-profile and protracted cases. In recent times, Chubb was one of the insurers involved in the business interruption test case, which arose out of pandemic-related claims and in which the insurers were largely successful. The case received significant attention both within the industry and more broadly providing several learning points and raising awareness across the industry of the need for rigor around product governance.  

What is a cause, business related or otherwise, that you care about, and why?  

As a developed country, I am concerned with the current financial literacy rates across Australia. A recent study by another global insurer found that just over a quarter of those in the Australian sample pool, rated ‘poor’ for financial literacy and only 20% received a ‘high’ rating for financial literacy.  

To improve the financial literacy rates and ensure that those most at risk of financial harm are protected, I would like to see more education programs for teenagers and young adults, particularly those from vulnerable or disadvantaged backgrounds; about the importance and risks involved in financial planning and financial products generally. I am also of the view that more controls could be put in place around unregulated and untested financial advice; particularly on social media.