Saudi Electronic University

College of Administration and Finance Sciences

Name of Student:

Internship Start/Finish Date:

Working Hours Per Week:

Company/Institution Name:

1
 Form No 4- Internship Report Cover Page

Student`s Name:
Student`s ID:

Trainee Department:
Training Organization:

Field Instructor Name: Field Instructor Signature:

Course Title: MGT 430 CRN: 50215

Internship Start Date: Internship End Date:

Academic Year/Semester: 2022 – 2023 / Summer Semester

For Instructor’s Use only

Instructor’s Name: Dr. Sager Alharthi Total Training Hours /280

Students’ Grade: Marks Obtained /30 Level of Marks:

Table of Contents

2
Introduction......................................................................................................................................6
Aim:.............................................................................................................................................6
Chapter 1: Description of Chubb Arabia Cooperative Insurance....................................................7
Full Title and History...................................................................................................................7
Full Title:.................................................................................................................................7
Brief History:...........................................................................................................................7
Mailing Address and Relevant Weblinks:...................................................................................7
Type of Ownership:.....................................................................................................................7
Main Shareholders:......................................................................................................................7
Chubb Insurance Company:....................................................................................................8
Zahid Group:............................................................................................................................8
Sector and Products/Services:......................................................................................................8
Property insurance:..................................................................................................................8
Motor Insurance:......................................................................................................................8
Health insurance:.....................................................................................................................8
Marine insurance:....................................................................................................................8
Liability insurance:..................................................................................................................8
Engineering insurance:............................................................................................................9
Customers/Clients:.......................................................................................................................9
Individual Policyholders:.........................................................................................................9
Businesses and Organizations:................................................................................................9
Insurance Brokers:...................................................................................................................9
Employees:..............................................................................................................................9
Organization Chart and Number of Employees:.........................................................................9
Organization Chart:.................................................................................................................9
Number of Employees:..........................................................................................................10
The functions of departments and divisions..............................................................................10
Production System/Service Procedure:......................................................................................10
Resources:..............................................................................................................................10
Inputs:....................................................................................................................................10
Outcomes:..............................................................................................................................10
Constraints:............................................................................................................................11

3
 Process Chart of a Major Product/Service:................................................................................11
Customer Inquiry:..................................................................................................................11
Risk Assessment:...................................................................................................................11
Quotation:..............................................................................................................................11
Policy Issuance:.....................................................................................................................11
Premium Payment:.................................................................................................................11
Policy Activation:..................................................................................................................11
Claims Processing:.................................................................................................................11
Settlement:.............................................................................................................................11
Major Fit Areas:.........................................................................................................................12
1. Accounting/Finance/IT/Quality/Marketing Standards and Principles:.............................12
2. Telecommunication Technologies:....................................................................................12
3. Quality Planning and Control:...........................................................................................12
4. Financial Analysis and Decision-Making Methods:..........................................................12
5. Marketing, Selling, and Human Resources Analysis:.......................................................12
Chapter 2: Internship activities......................................................................................................14
Working Conditions and Functions...........................................................................................14
Department Description.............................................................................................................14
Gained expertise and value addition..........................................................................................15
Organizational skills:.............................................................................................................15
Policy analysis:......................................................................................................................15
Claim system management:...................................................................................................15
Payment handling:.................................................................................................................15
Other Tasks beyond my major...................................................................................................15
Praising efforts and achievements.............................................................................................15
First drafts and assignments.......................................................................................................15
Important Theoretical and Practical Issues Examined...............................................................16
Examples and Supporting Documentation................................................................................16
Lessons Learned........................................................................................................................16
Chapter 3: Recommendations........................................................................................................17
Advantages of training program................................................................................................17
Hands-on experience:............................................................................................................17

4
 Supportive environment:.......................................................................................................17
Diverse exposure:..................................................................................................................17
Skill development:.................................................................................................................17
Obstacles and challenges...........................................................................................................18
Overcoming the challenges........................................................................................................18
Recommendations to enhance the training program at the college...........................................18
Suggestions for Chubb Arabia Cooperative Insurance..............................................................19
Conclusion.....................................................................................................................................19
References......................................................................................................................................20

5
Introduction
This internship report gives a thorough account of the welcoming environment I experienced at
Chubb Arabia Cooperative Insurance Company. The report begins with a detailed of the
company, highlighting its brief history and the services and products it is offering in insurance
sector. The report includes a thorough review of the practical experience I obtained during my
internship as well as a full breakdown of the assignments and activities I carried out. This report
looks at the abilities that I have acquired, including organizational abilities, effective claimant
communication, and policy analysis. While highlighting the inherent difficulties faced
throughout the training period, this report thoroughly discusses the benefits connected with the
internship program. This lengthy internship improves understanding of the issue by offering
unique and concise points of view. The analysis of the report's data yields a number of notable
and beneficial suggestions intended to improve professional and academic training programs. It
is advised to examine a number of tactics in order to help potential interns make the most of their
training opportunities. The learning environment would be richer and more immersive as a
consequence of a longer program runtime, to start. Second, including consistent instruction in the
curriculum would promote ongoing learning and skill improvement. Finally, encouraging cross-
departmental cooperation among interns would enhance their capacity to function well in a
variety of teams and would help them develop a full awareness of organizational operations.
Participating in professional development programs may help people strengthen their skill set
and gain knowledge about the insurance sector.

Aim:
The report's aims are to highlight the practical experience obtained, develop links between theory
and practice, and provide insightful advice to freshmen by highlighting the value of internships
in assisting with well-informed career decisions.

6
Chapter 1: Description of Chubb Arabia Cooperative Insurance
A reputable insurance company, Chubb Arabia Cooperative Insurance offers a broad variety of
insurance goods and services to its clientele across the Kingdom of Saudi Arabia. The business
was founded in 2007 and began operations as a cooperative insurance group. The organization
has built a solid name in the insurance sector throughout the course of its existence (CHUBB,
2023).

Full Title and History

Full Title:

Chubb Arabia Cooperative Insurance Company

Brief History:

Chubb Arabia was founded in 2007 by a collaborative partnership between Zahid Group, a
prominent conglomerate in Saudi Arabia, and Chubb, a globally recognized insurance company.
The establishment of the firm was driven by the increasing need for high-quality insurance
offerings in the Saudi Arabian market. Chubb Arabia has made notable advancements and
garnered a commendable standing via its unwavering dedication to excellence and a robust
emphasis on customer contentment (CHUBB, 2023).

Mailing Address and Relevant Weblinks:

Jeddah Branch: Chubb Arabia Cooperative Insurance Company P.O. Box 6629, Jeddah 21452,
Saudi Arabia

Website: https://www.chubb.com/sa-en/

Type of Ownership:
The ownership structure of Chubb Arabia, whereby all policyholders are shares, enables it to
operate as a cooperative insurance firm. Policyholders have the chance to share in the
organization's financial success and have some influence over decision-making because of the
ownership structure outlined above.

7
Main Shareholders:
The primary stakeholders with the largest ownership stakes in Chubb Arabia are:

Chubb Insurance Company: It is a prominent multinational insurance company that has a

substantial interest in the partnership.

Zahid Group: It is a prominent firm based in Saudi Arabia, has a substantial influence across
several industries.

Sector and Products/Services:

Chubb Arabia is an insurance company that caters to a diverse clientele, including people,
corporations, and organizations, by offering a comprehensive array of insurance products and
services. Chubb Arabia is a prominent participant within the insurance sector. The enterprise
seems to lack discernible constraints and offers insurance coverage in a wide array of categories,
encompassing diverse industries (GlobalData, n.d.).

Property insurance:
Property insurance offers coverage and mitigates the probability of incurring financial damages
if an individual or organization experiences the loss or destruction of their property due to
various perils, including but not limited to fire, theft, or natural calamities. Both organizations
and individuals may potentially use this advantage.

Motor Insurance:
When used for either individual or commercial necessities, automobile insurance provides
significant safeguard against prospective financial losses and incidents.

Health insurance:
The availability of health insurance, functioning as a kind of economic protection, facilitates
people and entities, such as businesses, in obtaining medical services.

Marine insurance:
Marine insurance offers coverage for many hazards, including but not limited to ships, nautical
vessels, cargo in transit, and other associated perils.

8
Liability insurance:
Liability insurance functions as a protective measure against legal proceedings initiated by
external entities whose rights have been violated or whose property has incurred damage. It is
possible that the property or rights of these parties may have suffered harm.

Engineering insurance:
Engineering insurance provides protection against many risks, including those associated with
building projects and the possibility of equipment malfunction.

Customers/Clients:
The clientele of Chubb Arabia includes a wide spectrum of parties, including:

Individual Policyholders:
The main reason people get insurance is to safeguard their own financial security.

Businesses and Organizations:

Businesses seeking insurance protection for their assets, liabilities, and employees make up a
significant portion of the clientele of companies and organizations.

Insurance Brokers:
By acting as a middleman between clients and Chubb Arabia, insurance brokers facilitate the
sale of insurance products, which is a critical function for them to perform.

Employees:
The word "employees" refers to people who work for a business and whose wellbeing is
protected by the provision of employee benefits and insurance protection.

Organization Chart and Number of Employees:

Chubb Arabia operates with a hierarchical organizational structure, led by a Board of Directors
and an Executive Management team. The company employs a talented and skilled workforce to
deliver high-quality insurance solutions.

Organization Chart:
 Board of Directors
 Executive Management

9
  Business Units/Departments (e.g., Underwriting, Claims, Sales & Marketing, Finance,
Human Resources, IT, etc.)
 Employees

Number of Employees:
Depending on the organization's operating and growth needs, the specific number of employees
may change. The numerous company divisions of Chubb Arabia are anticipated to employ
around 40,000 employees by July 2023 (CHUBB, 2023).

The functions of departments and divisions

 The thorough underwriting process comprises identifying potential risks, selecting the
best insurance plans, and determining how much to charge individuals or organizations
looking for insurance.
 The objective is to manage and administer insurance claims in a fair and effective
manner.
 The promotion of insurance products is one of the duties that falls within the field of sales
and marketing. Attracting new customers and staying in contact with current ones are
additional responsibilities.
 The management and administration of financial operations includes both budgeting and
the dissemination of financial data through reporting techniques.
 Human resources (HR) include the strategic management of a number of issues
pertaining to employment, career advancement, and employee welfare.
 The management and development of technological systems used to enhance customer
interactions and company operations is known as information technology (IT).

Production System/Service Procedure:

Chubb Arabia's insurance services include many notable components, which are as follows:

Resources:
Resource investments include several elements such as financial investments, human capital,
technological infrastructure, and sector-specific knowledge.

10
Inputs:
In this particular context, many inputs are included, such as client information, risk evaluation
data, premium payments, and evidence of regulatory compliance.

Outcomes:
The study's findings highlight three crucial aspects: the dissemination of insurance products, the
handling of insurance claims, and the delivery of customer support services.

Constraints:
Several reasons might put limitations on certain components. These involve the dynamism of a
competitive market, constraints triggered by regulatory compliance, and the need for a
comprehensive risk assessment.

Process Chart of a Major Product/Service:

Let’s take the application procedure for Chubb Arabia's motor insurance.

Customer Inquiry:
A potential customer is curious to know more about the range of protection provided by vehicle
insurance policies.

Risk Assessment:
Chubb Arabia does a risk analysis while taking into account the client's driving record, vehicle
specs, and insurance needs.

Quotation:
The company provides a personalized insurance premium based on a thorough study of risk
variables.

Policy Issuance:
When the quote is accepted, Chubb Arabia provides the vehicle insurance.

Premium Payment:
The buyer is responsible for paying the insurance premium.

Policy Activation:
When the prerequisites are met, the insurance is activated, giving protection against preset risks.

11
Claims Processing:
Following an incident or loss, a customer contacts Chubb Arabia to begin the claim procedure.

Chubb Arabia assesses the depth and accuracy of the coverage for the claim.

Settlement:
Chubb Arabia pays the customer once a claim is approved and meets the criteria.

Major Fit Areas:

The company provides both consumers and companies with a variety of insurance products and
services. Chubb Arabia has risen to prominence as an insurance provider in the area because to
its cooperative ownership structure, high standards, and state-of-the-art technology.
Let's explore some major fit areas of the company:

1. Accounting/Finance/IT/Quality/Marketing Standards and Principles:

In terms of marketing, finances, accounting, IT, and audits, Chubb Arabia complies with industry
norms. universally accepted standards. The company keeps thorough financial records, abides by
laws governing data security and protection, and employs quality control procedures to guarantee
high service standards.

2. Telecommunication Technologies:
Chubb Arabia uses a variety of communication strategies to increase productivity and
effectiveness. Databases for managing client data, instant messaging applications for internal
communication, networking infrastructure for dependable data transmission, and e-commerce
tools for online consumer interactions and insurance policy sales are just a few examples of the
technologies described above.

3. Quality Planning and Control:

To provide top-notch insurance products and services, Chubb Arabia focuses quality planning
and control procedures. Additionally crucial are customer satisfaction, risk assessments, and
claims management.

4. Financial Analysis and Decision-Making Methods:

Methods for Financial Analysis and Decision-Making Corporate treasurers and financial
managers at Chubb Arabia oversee investments, evaluate risk, and make prudent financial

12
decisions to improve financial performance. Complex financial analysis and decision-making are
needed for this.

5. Marketing, Selling, and Human Resources Analysis:

Chubb Arabia places a high priority on sales, marketing, and HR analysis. Numerous research
studies are required to examine the cost system, customer expectations, product strategy,
distribution strategy, and promotional strategy. The company also assesses the abilities and drive
of its personnel.

13
Chapter 2: Internship activities
I had the chance to do a range of responsibilities during my internship at Chubb Arabia
Cooperative Insurance Company. This particular experience helped me to learn new skills and
gave me insightful information about the insurance sector.

Working Conditions and Functions

For the course of my internship, Mr. Ahmed, the claims manager, was in charge of me. In terms
of managing claimants who often visited the branch and dealing with third-party claims, Mr.
Ahmed provided direction, motivation, and work assignments. I managed the administration of
settlements and other aspects of the claims process, such as document verification, and
collaborated with other professionals in the claims division to effectively complete my
assignments.

Department Description
The claims department of Chubb Arabia is in charge of organizing and overseeing the handling
and processing of insurance claims. The organization is split up into a number of divisions, and
each of these divisions has a number of sub-divisions that focus on various phases of the claims
process, such registration, document evaluation, and payment settlements. The department's main
objective is to increase customer satisfaction and build client confidence in the company's
services by effectively and speedily addressing customer concerns.

During my internship, I did several different activities which are mentioned below:

 I registered third-party claims and assisted branch visitors. I recorded various claimants'
claims. To achieve this, data had to be collected, claims evaluated, and claimants
communicated.
 I reviewed the supporting information to verify damages and third parties' claims. This
technique required careful attention to detail to ensure correctness and business
compliance.
 I managed payments to Najm, an important organization that helps Saudi Arabians drive
safely, and collected the firm's Najm debt.

14
  Before delivering the mail-ordered policies to the marketing department, I categorized
them.

Gained expertise and value addition

I gained a variety of practical skills through participating in these events that greatly raised the
standard of my professional performance, including:

Organizational skills:
A methodical workflow and the ability to manage many tasks at once are examples of
organizational skills, which call on the capacity to successfully arrange and manage paperwork.

Policy analysis:
I can easily understand the terms, coverage, and limits related to different insurance schemes
because to my competence in understanding and assessing insurance plans.

Claim system management:

The author has experience using the AIMS claim system to process insurance claims and manage
them effectively.

Payment handling:
By using the AIMS system, I improved my money administration skills and enabled fast and
accurate settlements.

Other Tasks beyond my major

I assisted with a range of administrative and claims-related duties throughout my internship. My
line of work has given me the opportunity to fill a number of jobs, all of which have improved
my ability to be flexible and adaptive in how I go about my business.

Praising efforts and achievements

With their help and that of my fellow students, I was able to take control of my education. They
provided me with vital advise, and their encouraging comments helped me feel more confident
so that I can now do my tasks properly.

15
First drafts and assignments
I made contributions to several articles and studies on handling third-party claims and insurance
policies during my internship. The claims manager and other interested parties have access to
reports on claim payments and settlements.

Important Theoretical and Practical Issues Examined

My college-level coursework in insurance and claims processing well-prepared me for the job I
accomplished during my internship. For instance, I used the information I learned in my
"Insurance Principles" course to assess the insurance coverage for my internship. In a similar
vein, the "Claims Management" course taught me how to streamline the claims procedure and
enhance my communication with claimants.

Examples and Supporting Documentation

 I got the opportunity to see a range of professional professions during my internship, each
with its own unique set of responsibilities.
 With a focus on trends in claim settlement and payment data, graphs were created to
improve the display of patterns and performance metrics.
 In order to utilize the branch's claim processing procedure as an example in my reports
and presentations, I graphically represented it.
 In the present analysis, statistics on claim processing delays were thoroughly examined to
identify potential areas for improvement.

Lessons Learned
The whole training program offered a number of remarkable benefits. I improved my capacity
for processing claims and doing policy research, as well as my multitasking, cooperation, and
communication skills. The aforementioned event deepened my comprehension of the insurance
sector and demonstrated the need of customer-centric norms.

16
Chapter 3: Recommendations
Throughout my stay in the training program at Chubb Arabia Cooperative Insurance Company, I
had a transformational journey that was characterized by considerable personal and professional
growth that could be attributed to a number of beneficial elements. But I encountered a few
obstacles and difficulties that compelled me to take initiative. The pros and cons of the program
are carefully analyzed in this chapter, along with suggestions for improving future training
possibilities for both the institution and the training provider.

Advantages of training program

Hands-on experience:
The fact that the training program included real-world experience in the insurance industry
helped me use my academic knowledge in practical circumstances. I have a stronger grasp of
how insurance plans operate and the steps involved in processing claims as a result of my actual
experience.

Supportive environment:
Chubb Arabia produced an extremely beneficial work atmosphere by requiring its workers to act
politely and professionally. My employer and coworkers made a significant contribution to the
development of a positive learning environment by offering invaluable mentoring, advice, and
helpful criticism.

Diverse exposure:
Throughout the training program, I had the chance to learn about a range of topics related to the
claims department, beginning with the preliminary registration procedure and concluding with
the final settlements. Because of the prolonged duration of this rigorous training, I was able to
increase my skill set and my awareness of the insurance industry.

Skill development:
The internship projects I worked on gave me the chance to hone crucial abilities including how
to properly plan and evaluate policies as well as how to communicate with claimants.

17
Obstacles and challenges
 The effective division of numerous responsibilities, such as the administrative tasks
required in claim processing, sometimes presented problems. It's crucial to have good
time management abilities since the project's magnitude could be a major obstacle.
 Despite the insurance company's claims department having access to pertinent
information, the training program provided little chances for engagement with other
departments. Due to the limited exposure, it was challenging to fully understand all
operating components.
 Due to the training session's brief duration, there was little opportunity for skill
development and a narrow selection of experience options.

Overcoming the challenges

The difficulties that developed throughout the training session were handled in various ways.

 Efficient time management is a prerequisite for efficient work managing. This objective
was achieved by using a variety of methods, including work prioritization, time
management, and seeking out supervisory advice.
 When given difficult tasks, I actively sought help from my company and colleagues. The
use of this proactive strategy accelerated the completion of certain duties while also
helping me understand them better.

Recommendations to enhance the training program at the college

 It is encouraged to consider the possibility of extending the training session to provide
students a greater opportunity to thoroughly study the assigned tasks and get a more in-
depth understanding of market dynamics.
 To provide trainees the ability to get experience in diverse business divisions, a rotation
program should be set up. As a consequence, it will be simpler to pinpoint potential areas
of interest and provide them a complete understanding of how the business functions.
 The training program should contain thoughtful lessons on crucial subjects including the
fundamentals of insurance, filing claims, and customer service. These sessions should be
carefully planned in order to encourage effective learning and understanding of these

18
 crucial subjects. These courses may help the trainees' knowledge base to grow and
develop.

Suggestions for Chubb Arabia Cooperative Insurance

 Each intern in an internship program has to be paired with a mentor who can provide
ongoing advice, support, and helpful criticism.
 Tasks should be accomplished completely and fully so that trainees are aware of their
duties, according to the detailed explanation provided.
 In order to promote teamwork, increase exposure across departments, and facilitate
trainee connections with personnel from other business divisions.

Conclusion
I had the opportunity to get priceless knowledge about the insurance industry thanks to the
training program offered by Chubb Arabia Cooperative Insurance Company. The beneficial
traits, inclusive atmosphere, and opportunities for skill development may be connected to the
favorable influence on my educational path. Despite running across a few obstacles, I managed
to overcome them by taking proactive measures.

I suggest implementing a number of changes within the school to improve the learning
environment. These tactics include extending the length of the program, putting in place a
rotating framework, and facilitating organized instructional sessions. The incorporation of
mentoring programs, the provision of detailed job descriptions, and the promotion of cross-
departmental exposure for trainees would all be advantageous to the training organization.

The internship has shown to be valuable and interesting as a learning opportunity, successfully
facilitating the fusion of academic understanding with real-world application. I would want to
convey my sincere thanks for the priceless chance to participate in an academic environment,
wherein I may hone and expand my skills. I am certain that participating in this program will
benefit my future professional aspirations since it will allow me to learn useful skills and
information.

19
References
CHUBB. (2023). Chubb in Saudi Arabia. https://www.chubb.com/sa-en/

GlobalData. (n.d.). Chubb Arabia Cooperative Insurance Co Company Profile - Overview -

GlobalData. Retrieved August 1, 2023, from https://www.globaldata.com/company-
profile/chubb-arabia-cooperative-insurance-co/

20