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:
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.