Solution

A configurable platform from set-up to launch

Fastnet chose Applied Riskhandler, a highly configurable platform for insurance distribution, to launch its business and market proposition quickly. Rapid deployment, real-time rating and self-service capability supported the MGA from initial set-up through market launch and scaling. Shortly after its formation, Fastnet went live with its first policies on Applied Riskhandler, and the official market launch followed in October 2024, once regulatory, funding and carrier arrangements were complete. 

Applied Riskhandler covers underwriting, policy admin, claims and document management in one system. It supports low-code product build and full-cycle rating, bind, referral and document generation, with a referral process for onboarding non-standard business. “Applied Riskhandler is the ideal tool for MGAs who want to adopt an agile approach to build, maintain and sustain growth through new product development,” said Bolger. 

Integration with Applied Connect supports day-to-day policy work. “The seamless integration with Applied Connect allows us to access policies easily, handle renewals smoothly, and benefit from automated data flows,” said Geoff Beggs, Chief Operating Officer. 

“Simple credit control and accounts management minimised administrative overheads and impressed both the internal team and external brokers. Another highlight was Riskhandler’s quick onboarding process, especially the ability to activate brokers within an hour,” Beggs added.