PHILADELPHIA - MARCH 3, 2004 - INAMAR®, the U.S.-based recreational marine insurer announced today that its ORCA delivery system now has 24/7 quote and policy issuance capabilities via the internet. INAMAR is an operating division of ACE Select Markets, a specialty insurance division of the ACE Group of Companies (NYSE:ACE). ACE Select Markets provides specialty personal lines products for recreational marine, collector automobiles, motorcycles, recreational vehicles, credit card enhancement programs, and disaster mortgage protection. ACE Select Markets also distributes commercial products to smaller-tiered businesses through its NewMarkets Insurance Agency.
"Success in today's specialty marketplace demands both the speed and efficiency that a technology-based distribution system can deliver," stated Ray Stahl, Senior Vice President, INAMAR. "As a global leader in the recreational marine insurance market we are utilizing technology to increase our distribution capabilities while enhancing the processing efficiency for ACE and our agents and clients. Under this newly enhanced ORCA system, agents can now achieve the complete policy lifecycle, from quote and bind to policy issuance, with a fast and easy-to-use internet solution."
The ORCA system combines the most sophisticated and useful functions from INAMAR's previously separate Boat, Yacht and predecessor on-line system into a single comprehensive quote and policy issuance platform. By incorporating the most valuable features of these earlier systems - including automated underwriting - agents can now complete their transactions faster and more efficiently. Key features of ORCA include:
* A single on-line system which enables the agent to input the data only once
* Simultaneous quoting of multiple boats for a single applicant
* A complete array of supplemental coverage options and navigational limits
* Policy inquiry capability for agents, including the ability to locally print any previously issued transaction
* Agents can locally print or e-mail quote letters, binders and applications via ORCA
INAMAR Recreational Marine Insurance is the exclusive source for marine insurance products from ACE INA, and one of the world's leading providers of marine insurance. INAMAR offers exceptional all-risk insurance coverage for vessels of all sizes throughout the United States. The INAMAR insurance programs cover everything from the smallest runabouts to the most luxurious yachts. INAMAR's customer service professionals are recognized throughout the industry for their marine insurance knowledge and dedication to meeting the customer's needs.
Insurance policies issued by INAMAR are underwritten by subsidiary insurance companies of ACE INA that are rated* "A" (Excellent) by A.M. Best Company and A+ (Strong) by Standard & Poor's.
*Company ratings as of January 2004
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ACE Select Markets, a division of ACE USA, focuses on the underwriting and marketing of specialty insurance products targeted towards specific insurance buyers, affinity groups, small businesses and niche industries. Products and services are offered through a network of specialty agents as well as unique distribution channels and partners. Products and services include coverage for recreational vehicles, collector automobiles, motorcycles, recreational boats and yachts, disaster mortgage protection and credit card enhancement programs. In addition, ACE Select Markets distributes commercial products through NewMarkets Insurance Agency, a wholly-owned agency. Products and programs include professional liability coverage, environmental, workers compensation, specialized weather products and captive management for affinity groups. Additional information on ACE USA and its products and services can be found at www.ace-ina.com. The ACE Group of Companies provides insurance and reinsurance for a diverse group of clients around the world.