Applied Systems Announces New Data Analytics Innovation
Company launches new data-driven insights to enable agencies and brokerages to drive enhanced business performance
University Park, IL – Feb. 13, 2018 – Applied Systems today announced the launch of Applied Analytics, a new data analytics solution built specifically for independent insurance agencies and brokerages. Applied Analytics accesses, analyzes, and displays data from an agency or brokerage management system, providing the visibility to discover business insights and trends to make more informed business decisions.
Applied’s new analytics offering leverages the fulsome data contained within the leading agency management system in the world, Applied Epic. Applied Analytics offers easy-to-use, interactive graphical dashboards that examine book of business, employee performance, and insurer relationship insights, including key transaction, policy, line of business and marketing information. Visual dashboards provide key business insights, including:
- Book of business by policy and line: Presents a summarized view of all active policies for a specific insurer.
- Retention summary: Offers analysis of clients for lost policies and new date filters including quarterly and year-to-date view of retention data.
- Employee analysis: Provides two dashboards, Employee Line of Business and Employee Summary, which deliver a summary of new, renewed and canceled business by employee at the policy level; also allows for revenue by employee evaluation.
- Employee productivity: Shows a summary of an employee’s total effort at the agency or department level, as well as insights into activities and tasks.
- Transaction summary: Delivers summary and comparison data for the types of revenue that an agency/brokerage collect in a given month, providing breakdowns of the top producers/brokers, producer/broker commission, transaction line status, and premium payable entity. This dashboard also provides a view of top transaction classes for the last 12 months.
- Sales account rounding: Provides recommendations of new prospective policies for insureds that have current policies expiring in the next six months. Recommendations are based on an agency/brokerage’s existing book of business and focused on specific NAICS or SIC codes.
“Data analytics provides agencies and brokerages a clear and visual representation of new business opportunities, employee productivity, and financial transactions while eliminating the time spent manually compiling and managing reports,” said Michael Howe, senior vice president of Product Management, Applied Systems. “The launch of Applied Analytics provides agencies and brokerages a new, visual representation of all aspects of an organization’s business – from operational performance, to employee success, insurer relationships, and complete book of business analysis. Through its market-leading management system integration with Applied Epic, Applied Analytics enables agencies and brokerages to visually analyze the vast amounts of existing data with ease to expedite the decision-making and planning process with more informed insights.”
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About Applied Systems
Applied Systems is the leading global provider of cloud-based software that powers the business of insurance. Recognized as a pioneer in insurance automation and the innovation leader, Applied is the world’s largest provider of agency and brokerage management systems, serving customers throughout the United States, Canada, the Republic of Ireland, and the United Kingdom. By automating the insurance lifecycle, Applied’s people and products enable millions of people around the world to safeguard and protect what matters most.