Through collaboration with industry and insurer partners, Applied set out on a mission to mend the broken commercial lines process and automate commercial lines connectivity in Canada. Historically, the end-to-end commercial lines value chain is too expensive, takes too much time, and leads to frustration among insurers, brokers and consumers.
In collaboration with CSIO and insurer partners, Applied is working to create an end-to-end commercial lines distribution solution. The work by CSIO is a great foundational piece of this journey to extend the flow of information to insurers. This collaborative workflow includes quote integration with commercial systems for small business, enabling brokers to carry out rate, quote, and bind processes within their daily workflows.
- New commercial lines connectivity gives brokerage and insurer partners consistent processes in both the marketing and in-force lifecycles by way of a standardized and robust data library, which allows for commercial lines data exchange.
- Standardized commercial workflows allow users on all brokerage management systems to transact key business lines that require quick turn-around time – when response time matters most to close business.
- Applied has launched a path to build real-time quoting for commercial lines.
- The recent acquisition of Indio introduces a broker and insured-facing data capture experience.
- Brokers have the ability to generate documents throughout the lifecycle by re-using data that is entered once, improving the submission process and reducing errors and omissions.
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