• Offers Brokers Online Quoting and Issuing Capability for Small
Business Insurance
Company Website:
http://www.acegroup.com
PHILADELPHIA -- (Business Wire)
ACE
Commercial Risk Services, which offers insurance solutions
for small businesses in the United States, today announced the launch of
new packaged insurance products and specialty coverages available on
a Business Owners Policy (BOP). The products are available on ACE
Solutions Fast TrackSM, an intuitive
online underwriting platform.
ACE Solutions Fast Track can quote and issue small business and
specialty insurance policies for brokers in less than five minutes,
enabling them to provide a rapid response to their small business
clients. This high speed access and accuracy of information is achieved
through real-time third party data analytics requiring significantly
less data entry.
The initial rollout of ACE Solutions Fast Track will include new
products for more than 100 types of small businesses, including
one-to-four family rental dwellings, artisan contractors, retail stores,
professional offices, and services, all written on a BOP form. In
addition, ACE's recently enhanced not-for-profit Directors & Officer’s
(D&O) liability coverage with a Business Owners Endorsement coverage
form automatically includes more than 15 unique coverage enhancements.
Future products and coverages will be announced this summer.
“Small business owners can now have the convenience of getting
customized coverage for their separate lines of insurance through one
single policy. We developed the policies to complement each other,
closing gaps in coverage, and offering a significant advantage to our
policyholders," said David Charlton, Division President, Property &
Casualty and Micro-business Division, ACE Commercial Risk Services.
ACE Solutions Fast Track online quoting system features:
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Policy documents can be digitally delivered to customer immediately
following issuance
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Direct bill, agency bill, and credit card payment options available
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Ability to amend the BOP to a mono-line general liability policy
digitally, provides greater flexibility
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Option to place admitted business in Agency Service Center
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Streamlined quote process using data analytics that pre-fills answers,
requires less data entry
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Most policies are automatically renewed
Mr. Charlton continued, “This innovative technology solution is a
perfect way for brokers to quickly meet all the changing risk mitigation
needs of their small business clients. It’s a scalable, value-added
solution that can expand as business owner’s needs grow, including such
events as purchasing a building, selling equipment, or expanding
business operations.”
Providing businesses with the protection of one BOP package through ACE
Solutions Fast Track is another way ACE Commercial Risk Services is
providing compelling and cost-effective solutions to small businesses
and their producers in the United States.
ACE Commercial Risk Services is dedicated to providing insurance
products that offer solutions for small business insurance needs in
North America. ACE Commercial Risk Services offers its products through
retail agents and brokers, wholesale brokers and wholesale producers,
program agents and other alternative distribution models. All products
may not be available in all states. Surplus lines insurance is sold only
through surplus lines producers. For more information, please visit www.acecrs.com.
About ACE Group
ACE Group is one of the world’s largest multiline property and casualty
insurers. With operations in 54 countries, ACE provides commercial and
personal property and casualty insurance, personal accident and
supplemental health insurance, reinsurance, and life insurance to a
diverse group of clients. ACE Limited, the parent company of ACE Group,
is listed on the New York Stock Exchange (NYSE: ACE) and is a component
of the S&P 500 index. Additional information can be found at www.acegroup.com,
or follow ACE on Twitter, https://twitter.com/ACEGroupNA.
Contacts:
ACE Group
Carla Ferrara, 215-640-4744
carla.ferrara@acegroup.com
Source: ACE Group
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