New York - National Union Fire Insurance Co. of Pittsburgh, Pa. (National Union), a member company of American International Group Inc. (AIG), has released a Web-based system allowing brokers to quote and bind PrivateRisk Protector coverages in just minutes. PrivateRisk Protector is a portfolio of management and professional liability coverages designed for private companies.The system, called AIG ePro, was engineered for brokers to simplify the selection of coverages, generate quotations and electronically issue policies for private companies with up to $100 million in revenue or up to 1,000 employees.
Using AIG ePro, brokers can create a customized portfolio of coverages online, while reducing time and documentation. In addition, AIG ePro enables brokers to:
- Immediately determine if an online quote will be generated or if underwriting review is required
- Deliver e-policies in lieu of or in addition to hard copies
- Determine eligibility by a quick search of a broad array of eligible risks by SIC codes
- Communicate directly by e-mail with appropriate underwriters; and access world class technical support and online training.
"AIG ePro was created in response to brokers demands for a quick and efficient system to expedite a transaction between the broker, client and insurer," says Brian Inselberg, president of National Union's private and not-for-profit division. "We expect AIG ePro to immediately help reduce brokers' transaction costs while more efficiently servicing private companies."
Initially, AIG ePro offers private companies the ability to choose from the six coverages in the PrivateRisk Protector portfolio including: directors, officers and private company liability insurance; employment practices liability insurance; pension trust liability insurance; fidelity and crime coverage; employed lawyers professional liability insurance; and internet media liability insurance.
Source: American International Group Inc.
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