Chubb will at some point experience much bigger issues if compared to what we have now - the industry is slowly changing and it'll catch up with us. Chubb is very slow to move in the face of change, and that's not good for workers and shareholders. Chubb does many things well but the management is very hesitant to embrace new ideas - they are simply not entrepreneurial. Also, the company is very political and it's a not good culture - you have to be networking internally and invest a lot of time in this in order to do well for yourself... Finally, the acquisition by ACE introduces a lot of uncertainty - I am in IT and we will get hit with layoffs I am sure - there will be many IT overlaps once we are integrated with ACE.
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Chubb was doomed by its own insular, slow-footed, old-fashioned culture.
Every aspect I am exposed to here is way behind the times - I don't mean a little sluggish or conservative.
I mean laughably, unbelievably outdated and insular.
And no, not all big companies are like Chubb. Some of the actually stay within 5 - 10 years of modern times, not 20 years out like Chubb.
If you are employee on the way out, be prepared for a very rude awakening when you get to the outside world.
It already started on the ACE side. We lost a VP of infrastructure. Good luck to all of us, looks like we are going to need it.
You cannot do anything about this - most companies in this area (insurance) are just like this
Good luck to all IT folks - YOU WILL NEED IT #gochubb