Insurer is first to offer full cycle online PTL solution
Ace Europe has today launched its Elite Pension Trustee Liability (PTL) product on the company’s e-commerce platform - Ace Online.
Brokers can now generate PTL quotations, place and renew cover, make adjustments and issue policy documentation at the touch of a button.
Ace Online PTL enables brokers to source specialized protection for individual trustees, pension schemes and sponsoring employers.
In one simple process they can quote, bind and print policies online with minimal administration. Uniquely, the process does away with the traditional requirement for completion of a long application form.
In November 2007, Ace warned that trustees faced heightened risks as a result of the Pensions Act 2004 and that many are not adequately protected.
Emma Watkins, pension trustee liability specialist and product manager at Ace, said: “Our research suggests that many small to medium sized companies with pension schemes do not have any specific pension insurance protection in place, with a significant number believing that they are protected through their directors and officers (D&O) cover; but this is not the case.
"Ace Online PTL can provide trustees and schemes with the protection they need at an affordable price. The system is very easy to use so brokers can quickly generate quotations for their clients alongside D&O quotes.”
Ace is also providing access to its experienced financial lines underwriters and business development managers who can give brokers full support when using Ace Online.
Diane Davidson, UK & Ireland regional D&O manager, said: “Our aim is to work with UK regional broking partners to ensure that they are using the Ace Online service to its full potential, including realising the cross-selling opportunities it presents, while continuing to receive first class service support.”
