ACE USA Selects Camilion's AuthorityUnderwriter'TM' and ProductAuthority'TM': Product Management, Online Sales and Enterprise Underwriting Solution Drives Producer Ease-of-Use and Speed to Market.TORONTO -- Camilion Solutions, Inc., a leading provider of product management, online sales and underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. solutions to the insurance industry, announces that ACE USA, the U.S.-based division of the ACE Group of Companies, has licensed AuthorityUnderwriter(TM) and ProductAuthority(TM). These innovative products are designed to create efficiency and ease-of-use for producers, and improve speed to market for a range of insurance products. "We required a sales and underwriting solution to support ACE Online, a real-time 1. real-time - Describes an application which requires a program to respond to stimuli within some small upper limit of response time (typically milli- or microseconds). Process control at a chemical plant is the classic example. , quote and bind portal for online delivery of ACE USA insurance products and customized risk management services and tools." says Michael Baeurle, Senior Vice President of ACE Online. "Our goal is to be able to move more products to online distribution channels, thus offering a better on-line solution for our producers, and to dramatically improve our speed to market, while building a platform to support our future growth." "We understand that insurance companies are challenged with finding ways to launch innovative products to their target markets faster than their competitors, and require effective online sales and underwriting approaches to achieve this. We're pleased that ACE USA has selected our software solutions to address this critical challenge," says Ross Orrett, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Camilion Solutions, Inc. About Camilion Solutions, Inc. Camilion Solutions, Inc. is the leading provider of product management, online sales and underwriting solutions for the insurance industry. Camilion's solutions enable companies to quickly and efficiently launch new products into target markets across multiple channels, automate To turn a set of manual steps into an operation that goes by itself. See automation. underwriting, enable straight-through processing straight-through processing The direct exchange of cash and securities. Straight-through processing is a major objective for cross-border transactions that are generally much more costly to settle compared to domestic transactions. , and provide a flexible platform to support current and future growth- all without requiring the replacement of existing policy administration systems. Founded in 2000, Camilion Solutions, Inc. is a privately owned corporation with offices in Toronto, Canada and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . For more information about Camilion and its products and services visit us at www.camilion.com. About ACE USA ACE USA is the U.S.-based retail operating division of The ACE Group of Companies, headed by ACE Limited (NYSE NYSE See: New York Stock Exchange : ACE). ACE USA, through its underwriting companies, provides insurance products and services throughout the U.S. 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 The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. for a diverse group of clients around the world. ProductAuthority(TM) and related names are registered trademarks of Camilion Solutions, Inc. |
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