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• Commercial liability insurer expertise for medium buyers
• Commercial liability insurer service for large buyers
• Commercial auto insurer service for large buyers
• Commercial auto insurer expertise for large buyers
• Commercial auto insurer overall for large buyers
• Workers compensation provider services for large buyers
• Workers compensation provider expertise for large buyers
• Workers compensation provider overall for large buyers
A commitment to using technology to improve service has paid dividends for Ace Ltd., the insurer says.
Zurich-based Ace garnered eight Business Insurance Buyer's Choice awards for 2012, including commercial liability insurer expertise for medium buyers; commercial liability insurer service for large buyers; commercial auto insurer for service, expertise and overall large buyers; and workers compensation provider for service, expertise and overall for large buyers.
Matt Merna, New York-based division president of Ace's risk management division, a unit of Ace USA, the U.S.-based retail operating division of Ace, said the insurer has invested in technology to differentiate its service offerings and respond to client demand.
“We have client advisory boards across the country and our clients have been asking for the insurance industry to improve its technology,” he said.
Mr. Merna pointed to Ace Accelerator, a Web-based portal for risk managers that the company unveiled in March, as an example of how it uses technology to increase service. Using the portal, a risk manager can quickly review and submit the forms needed for their coverage elections in a paperless format.
“We took what had been a very laborious headache for our clients and, by using technology, turned it into something that is very simple for them to complete,” he said.
The move toward replacing manual underwriting with electronic processes is advancing rapidly, even for large, complex commercial insurance accounts, Mr. Merna said. “Claims had gone paperless years ago and we are now starting to see that on the underwriting side,” he said. “This is the future of where the underwriting process is going.”
In addition to a substantial capital outlay to build technologies such as Ace Accelerator, the insurer has invested extensive manpower in the project. Mr. Merna said the regulatory aspect of the project was a particular challenge, noting the company surveyed all state insurance regulatory bodies while developing the product. “Making sure you are doing things in a compliant manner takes time,” he said.
Gary Kramer, New York-based vice president of Ace risk management, agreed.
“It takes much more than a silo to do this,” Mr. Kramer said of Ace Accelerator. “We had to interface with all the different aspects of Ace from claims to underwriting to make sure that we have one, consistent voice.”
• Commercial property insurer service for small buyers
• Commercial property insurer expertise for small buyers
• Commercial property insurer overall for small buyers
• Commercial auto insurer service for small buyers
• Commercial auto insurer expertise for small buyers
• Commercial auto insurer overall for small buyers