PHILADELPHIA--(BUSINESS WIRE)--The ability to validly elect or reject Uninsured/Underinsured (UM/UIM) motorist coverage has a significant economic impact on insureds and insurers. All 50 states and the District of Columbia have requirements regarding the completion of election forms. The forms and associated requirements vary by state and risk managers need a more efficient and effective way to complete this complex and time consuming process. Recognizing and responding to this need, ACE Risk Management® (ARM) today announced the launch of ACE AcceleratorSM, exclusively for ARM clients.
ACE Accelerator is a web-based portal for risk managers that lets them quickly review, execute, and submit all the forms needed for their coverage elections. Because the portal selects only those documents relevant to each coverage situation – from among the hundreds that are available for each of the 50 states – risk managers can enjoy a much-simplified election process. This process not only provides excellent customer service, it saves countless hours of work by eliminating the time-consuming paperwork involved in the filing process.
“The rules and requirements in each state and the District of Columbia for the offer and sale of UM/UIM coverage are complicated,” said Matt Merna, Division President of ACE Risk Management. “Our new ACE Accelerator product will help risk managers handle UM/UIM forms with streamlined processes, giving them greater confidence in their ability to meet state requirements. The system documents elections so that risk managers can efficiently verify, execute and submit these forms. It’s truly a comprehensive solution and one that will support them in their overall efforts to effectively manage their risk management programs now and for years to come.”
Gary Kramer, Vice President, ACE Risk Management added, “Against a backdrop of complex priorities, risk managers are looking for ways to achieve their goals using technologies and operational improvements. In fact, ARM clients have come to us and asked us to find a solution.”
Long known for providing high levels of customized service, the ARM team drilled into the process for meeting state regulations. Remarked Mr. Kramer, “The analysis revealed just how daunting and time consuming this process was. And we were determined to find a way to use automation to break up the process to make it more efficient. We are most excited to offer this product to our clients.”
About ACE Group:
ACE USA is the U.S.-based retail operating division of the ACE Group, and is rated A+ (Superior) by A.M. Best Company and AA- (Very Strong) by Standard & Poor’s. ACE USA, through its underwriting companies, provides insurance products and services throughout the U.S. Additional information on ACE USA and its products and services can be found at www.aceusa.com. The ACE Group is a global leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited (NYSE:ACE), a component of the S&P 500 stock index, the ACE Group conducts its business on a worldwide basis with operating subsidiaries in more than 50 countries. Additional information can be found at: www.acegroup.com.