ACE European Group has launched a Directors & Officers (D&O) 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 D&O 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.
Southern consolidator Jelf moved its systems onto the Acturis platform in October 2006 and has already activated ACE's D&O product.
Jeremy Wilson, group operations director commented: "ACE has developed an online D&O offering 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 D&O quotations for existing and new clients extremely efficiently. As well as making it easier for us to submit D&O business, this efficiency translates into reduced cost for the Jelf Group."
Theo Duchen, CEO of Acturis, said: "Initial responses have been that it will significantly improve D&O cross sell."
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