October 2006

ACE Directors and Officers goes live on Acturis broker platform

London, 17th October 2006 - ACE European Group (ACE) is continuing to expand its e-commerce offerings to UK brokers with the launch of a Directors and Officers product on the Acturis broker platform.

The auto-rated cover, specifically developed for UK private limited companies, went live at the end of September and is available on a stand-alone and add-on basis. It will offer quotations and allow brokers to accept cover of up to £10m for firms with a turnover or assets of up to £150m. The policy, based on ACE's flagship Directors and Officers Elite 3 wording, provides cover for the majority of UK trades.

The system will enable brokers to receive quotes, using a short system-based application form with a minimum number of questions, and then bind online. Once bound, brokers will receive the documentation by e-mail. The system will also enable brokers to renew cover electronically. Recognising that the support beyond an online interface is a key requirement for the market, brokers will also have access to ACE's experienced Directors and Officers underwriting unit focused on private companies should there be any questions or queries on the risk.

Southern consolidator Jelf moved its systems onto the Acturis platform in October 2006 and has already activated ACE's Directors and Officers product. Jeremy Wilson, Group Operations Director commented: ""ACE has developed an online Directors and Officers offering that that boasts an exceptionally slick application process. From start to finish, the whole function can be completed in as little as one minute. This frees up valuable time and means we can generate Directors and Officers quotations for existing and new clients extremely efficiently. As well as making it easier for us to submit Directors and Officers business, this efficiency translates into reduced cost for the Jelf Group."

Commenting on the launch of the Directors and Officers product on the Acturis system, Mark Whitehead, ACE European Group's e-Commerce Manager said: "Brokers recognise the potential of products such as Directors and Officers to help income and new business generation. Using platforms such as Acturis is a cost effective and efficient way to help build Directors and Officers accounts and to capitalise on new opportunities."

Whitehead continues: "ACE is focused on improving the efficiency of the sales process. Less time and hassle in quoting, binding and delivering Directors and Officers policies online will reduce the work burden and increase broker revenue and margins."

Theo Duchen, Co-CEO of Acturis, adds: "The ACE/Acturis Directors and Officers integration is exciting and leading edge as it involves a significantly shortened question set, an external data lookup function that ensures rapid quote provision, and iMarket compliance. Initial responses have been that it will significantly improve Directors and Officers cross sell."

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