Frequently Asked Questions
1. What are the details of today’s announcement?
Applied Systems recently completed the acquisition of the eTrading for personal lines platform from IS2. The platform provides UK brokers end-to-end eTrading for customers to rate, quote, and bind policies through online channels, as well as enables brokers to implement dynamic, rule-based pricing for real-time price optimization. This product is built on a high performance, scalable architecture to support large volumes of transactions. The cloud-based solution can integrate with broker management systems, external websites, and all UK-based price comparison sites. This product will enable brokers to expand online distribution channels and increase multi-channel customer service to drive growth and success in today’s digitally connected marketplace.
2. Why did Applied acquire IS2’s eTrading for personal lines platform?
Applied is committed to providing advanced software and services to increase connectivity between brokers, insurers, and the insured to drive new growth opportunities and enhance customer experience for greater business success. This acquisition extends Applied’s product portfolio breadth and enables Applied’s customers to better serve their markets and drive growth. Through this acquisition, the broker and insurer marketplace will further benefit from greater technical resources and a broader product portfolio to support digital transformation and accelerated growth.
3. How will this benefit Applied Systems and IS2’s customers?
Applied is committed to delivering its customers the highest level of product innovation, services and support to ensure success in today’s digitally connected marketplace, and we believe that this acquisition will provide meaningful benefits to our customers, partners, and other stakeholders across the insurance industry. IS2’s broker customers and partners will benefit from Applied’s ownership through additional resources and the broader Applied product set. Applied’s broker customers will benefit from access to a leading e-Trading for personal lines platform that provides immediate integration into all leading UK-based price comparison sites, as well as a broker’s individual website, for customers to rate, quote, and bind policies through online channels. Insurers will benefit from the expanded distribution of product and rates across the combined broker base.
4. How will this benefit the insurance industry?
Applied Systems is committed to making further investments in the Irish and UK markets, with a primary focus on delivering additional expertise, resources and technology innovation to scale growth and drive a connected insurance experience among brokers, insurers, and the insured. Applied Systems will continue to expand broker and insurer connectivity solutions to automate information exchange across the independent broker channel to enhance competitive value.