Arch Announces Non-Profit Accident Product Now Available Through Arch APEXSM Portal

Rhea-AI Summary

Arch Insurance (Arch) (Ticker: ARCH) introduces non-profit accident insurance product on Arch APEX digital platform, streamlining the quote-bind-issue process and offering comprehensive accident protection for volunteers and participants. The platform aims to increase agency revenue and client satisfaction by simplifying coverage processes.

Positive

• Arch Insurance (Arch) introduces a new non-profit accident insurance product, demonstrating commitment to simplifying coverage processes
• The Arch APEX digital platform streamlines the quote-bind-issue process, enabling policies to be purchased online in minutes, increasing efficiency for agents and brokers

Negative

• None.

Arch APEX digital platform enables rapid quote-bind-issue experience for select products

HUNT VALLEY, Md.--(BUSINESS WIRE)-- Arch Insurance (Arch), a leading provider of specialty insurance and risk management solutions, announced its non-profit accident insurance product is now available through the Arch APEX digital platform.

The Arch APEX platform was designed to streamline the quote-bind-issue process, allowing policies to be purchased with a just a few clicks. What used to take hours or days can now be accomplished online in minutes, enabling agents and brokers to more efficiently offer products to their clients, increasing agency revenue and client satisfaction.

Arch’s non-profit accident product provides comprehensive accident protection for volunteers and participants in various activities and events. The addition of non-profit accident is another in a series of planned segments within the APEX portal and demonstrates Arch's commitment to the long-term vision of simplifying coverage processes that can be cumbersome and time-consuming.

“We understand that non-profits have unique needs when it comes to accident insurance,” said Jim Villa, SVP Arch Accident & Health. “Non-profit volunteer workers are usually not covered by workers’ comp plans, and AD&D and Accident Medical Expense coverages are an important protection for these groups. We’re excited to make the purchase experience easier, allowing brokers and non-profit organizations to provide this valuable coverage quickly and efficiently.”

To learn more about Arch's non-profit accident insurance and how it can benefit your organization or event, please visit our website or contact a member of our team at 855-951-2328.

About Arch Insurance North America

Arch Insurance North America, part of Arch Capital Group Ltd., includes Arch’s insurance operations in the United States and Canada. Business in the U.S. is written by Arch Insurance Company, Arch Specialty Insurance Company, Arch Property & Casualty Insurance Company and Arch Indemnity Insurance Company. Business in Canada is written by Arch Insurance Canada Ltd.

The Accident and Health business unit of Arch Insurance provides a variety of Travel (under the Arch RoamRight and Arch Red Sky affiliate brands), disability/paid family medical leave and Accident and Health insurance products.

About Arch Capital Group Ltd.

Arch Capital Group Ltd. (Nasdaq: ACGL) is a publicly listed Bermuda exempted company with approximately $18.0 billion in capital at Sept. 30, 2023. Arch, which is part of the S&P 500 Index, provides insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries.

Cautionary Note Regarding Forward-Looking Statements

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward−looking statements. This release or any other written or oral statements made by or on behalf of Arch Capital Group Ltd. and its subsidiaries may include forward−looking statements, which reflect the Company’s current views with respect to future events and financial performance. All statements other than statements of historical fact included in or incorporated by reference in this release are forward−looking statements.

Forward−looking statements can generally be identified by the use of forward−looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or their negative or variations or similar terminology. Forward−looking statements involve the Company’s current assessment of risks and uncertainties. Actual events and results may differ materially from those expressed or implied in these statements. A non-exclusive list of the important factors that could cause actual results to differ materially from those in such forward-looking statements includes the following: adverse general economic and market conditions; increased competition; pricing and policy term trends; fluctuations in the actions of rating agencies and the Company’s ability to maintain and improve its ratings; investment performance; the loss of key personnel; the adequacy of the Company’s loss reserves, severity and/or frequency of losses, greater than expected loss ratios and adverse development on claim and/or claim expense liabilities; greater frequency or severity of unpredictable natural and man-made catastrophic events, including pandemics such as COVID-19; the impact of acts of terrorism and acts of war; changes in regulations and/or tax laws in the United States or elsewhere; ability to successfully integrate, establish and maintain operating procedures as well as integrate the businesses the Company has acquired or may acquire into the existing operations; changes in accounting principles or policies; material differences between actual and expected assessments for guaranty funds and mandatory pooling arrangements; availability and cost to the Company of reinsurance to manage the our gross and net exposures; the failure of others to meet their obligations to the Company; a disruption caused by cyber-attacks or other technology breaches or failures on the Company or the Company’s business partners and service providers, which could negatively impact the Company’s business and/or expose the Company to litigation; and other factors identified in our filings with the U.S. Securities and Exchange Commission (“SEC”).

The foregoing review of important factors should not be construed as exhaustive and should be read in conjunction with other cautionary statements that are included herein or elsewhere. All subsequent written and oral forward−looking statements attributable to us or persons acting on the Company’s behalf are expressly qualified in their entirety by these cautionary statements. The Company undertakes no obligation to publicly update or revise any forward−looking statement, whether as a result of new information, future events or otherwise.

Tag: arch-insurance
Source: Arch Insurance North America

View source version on businesswire.com: https://www.businesswire.com/news/home/20231213209726/en/

Media:

Tim Dodge

Vice President – Marketing

tdodge@archinsurance.com

Source: Arch Capital Group Ltd.

FAQ

What is the new product introduced by Arch Insurance on the Arch APEX digital platform?

Arch Insurance introduces non-profit accident insurance product on the Arch APEX digital platform, providing comprehensive accident protection for volunteers and participants.

How does the Arch APEX digital platform aim to increase agency revenue and client satisfaction?

The Arch APEX platform streamlines the quote-bind-issue process, allowing policies to be purchased online in minutes, increasing efficiency for agents and brokers.

What are the unique needs of non-profits when it comes to accident insurance?

Non-profit volunteer workers are usually not covered by workers’ comp plans, and AD&D and Accident Medical Expense coverages are important protections for these groups.

Who is the SVP of Arch Accident & Health and what does he say about the new product?

Jim Villa, SVP of Arch Accident & Health, mentions that non-profit volunteer workers are usually not covered by workers’ comp plans, and AD&D and Accident Medical Expense coverages are important protections for these groups. He is excited to make the purchase experience easier, allowing brokers and non-profit organizations to provide this valuable coverage quickly and efficiently.