Recently, the retail unit of ACE Limited’s (ACE) ACE Group – ACE USA has taken a step to expand its web-based desktop portal, ACE Worldview. Through the expansion, the platform, which mainly caters to multinational risk managers and their brokers, will now be available to the clients and brokers of ACE Risk Management (:ARM). ACE Risk Management is a segment of ACE USA that provides risk management services to companies that have to deal with high financing expenses and risks associated with them.
ACE Worldview is tailored to help risk managers and brokers manage the various demands encountered by them. It enhances the efficiency of electronic delivery of policies and endorsements and thus provides clients with immediate access to information, reviews and updates pertaining to their U.S. domestic primary casualty programs. With the extension of this technology to ARM, this interactive portal will now enable ARM clients direct control over hefty and complex primary casualty programs, multiple policies and recent or imminent deals.
The new ACE Worldview for ARM will help ACE Risk Management to issue policies and endorsements using the electronic mode, ACE Worldview portal, thus making delivery of coverage information more efficient. It will also serve as an electronic library that would store all policies, endorsements, notifications, collateral agreements and captive reinsurance agreements, and help users review and verify premium audit adjustments. Moreover, it will serve as a service center whereby clients can submit service requests and the system will track, monitor and display updates. Thus ACE Risk Management will now be able to cater to its clients better and retain client confidence.
ACE is a company that prefers investing in technologies that boost its risk management capabilities and enhance customer satisfaction. The above expansion was one such endeavor. We expect the extension of the technology to ARM business to help the company augment its primary casualty line of business thereby strengthening its competitive position in the market.
ACE currently carries a Zacks Rank #3 (Hold). Among other insurers, American Safety Insurance Holdings Ltd. (ASI), Catlin Group Limited (CLNGF) and Hilltop Holdings Inc. (HTH) carry a favorable Zacks Rank #1 (Strong Buy) and appear impressive.
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