Applied Systems today announced that the ABACUS has selected Applied Rating and Fulfilment Services to distribute its Personal Lines products via Applied TAM, the most widely used broker management system in the world. Through this partnership, Applied Systems will support ABACUS’ premium growth strategy by providing the connectivity, data exchange and policy fulfilment.
Applied Rating and Fulfilment Services delivers the UK insurance industry a leading connectivity and data exchange platform, enabling insurers to quickly and effectively distribute their personal and commercial lines products. Applied Rating and Fulfilment Services connects insurers to a broker’s back-office system, automating the rating and policy fulfilment process for both insurers and brokers. Applied Rating and Fulfilment Services provides insurers flexibility to manage their rates and respond to market shifts in real-time through Applied’s rating solution. Applied Rating and Fulfilment Services also connects to Data Enrichment and other third party data providers, to provide insurers with up-to-date, clean data, allowing for more accurate risk analysis, reduction in potential fraudulent policies and more competitive products and premiums.
“As brokers look to differentiate their business, we recognised an opportunity to distribute our Property Owners niche products to drive business growth and provide broker choice – allowing them to transact business using their core system,” said Richard Burgess, director of ABACUS. “By connecting with Applied Systems, we are able to develop new business opportunities, and provide competitive premium quotes to our broker partners for their clients.”
Applied TAM, the most widely used cloud-based brokerage management system in the world, allows brokers to automate daily operational processes, client policy information and insurer connectivity, enabling users to be more productive and focus on the core business of selling insurance and servicing their insured. Through an automated and easy-to-navigate interface, Applied TAM provides deep visibility into day-to-day brokerage operations to reduce time spent on administrative tasks, decrease errors and omissions risk, provide a seamless employee onboarding and training experience, and better respond to client needs. Applied TAM automates the business operations for more independent insurance brokerages than any other brokerage management system.
“The Personal Lines market has become increasingly more complex, requiring insurers to expand their products and distribution channels to further enhance their business value,” said Jeff Purdy, senior vice president of International Operations, Applied Systems. “Through this partnership, ABACUS will be able to expand their distribution channel and provide our brokers with competitive products and premiums, delivering benefits of business growth and client satisfaction across all key stakeholders of the value chain.”
About Applied Systems
Applied Systems is the leading global provider of cloud-based software that powers the business of insurance. Recognised as a pioneer in insurance automation and data exchange between brokerages, insurers and their clients, Applied is the world’s largest provider of agency and brokerage management systems, serving customers throughout the United States, Canada, Ireland and the United Kingdom. By automating the insurance lifecycle, Applied enables millions of people around the world to safeguard and protect what matters most.
Richard Burgess is a Director at ABACUS.