Venture Programs Expands Services through Web-based Underwriting Facility

March 8, 2004

Venture Programs announced that it has been selected to write business with ACE Complete, a Web-based underwriting facility for contracted program administrators and wholesale brokers.

ACE Complete offers program administrators and brokers fast, efficient online underwriting for the workers’ compensation needs of small-to mid-size employers. All underwriting transactions – from clearance through qualification, rating to issuance – are conducted online.

Currently, Venture is one of only 35 program administrators and brokers in the U.S. authorized to use the Web-based product. Venture’s insurance programs benefiting from this service include the Preferred Club Program, Venture Technology, Venture Life Sciences and Venture Hospitality, which are marketed exclusively through agents and brokers.

“ACE Complete will enable Venture Programs to offer brokers and agents a highly responsive, quality market for workers’ compensation coverage, less restrictive premium requirements and expanded class codes within our programs,” said Joseph Dolce, vice president, underwriting, at Venture Programs.

ACE Complete policies are underwritten by ACE Property and Casualty Insurance Company, which is part of the ACE Group of Companies, and has a maximum premium of $100,000.

In December 2003, Venture Programs announced a program alliance with the ACE Westchester Specialty Group, part of the ACE Group of Companies, to provide coverage for the Preferred Club Program’s package product.

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