Applied Systems Announces Partnership with Close Brothers Premium Finance
Premium finance integration into Applied TAM to increase client service offerings for UK brokerages
Brighton, UK – 22 Jan. 2015 – Applied Systems today announced a partnership with Close Brothers Premium Finance to integrate premium finance products into Applied TAM, the most widely used brokerage management system in the world. UK brokerage’s will now only have to enter client and prospect’s finance requirements and information into Applied TAM, eliminating the need to rekey information into multiple systems and automating the data exchange between the brokerage and Close Brothers Premium Finance. Through this partnership, UK brokers will be able to offer their clients competitive and flexible finance options and reconcile finance agreements through an automated process, reducing time spent on administrative tasks and improving customer service to increase client satisfaction, retention and growth.
"We recognised early on that software integration was crucial for brokers to deliver competitive premium finance offerings," said Sharon Bishop, CEO, Close Brothers Premium Finance. "Integration of our premium finance products into Applied TAM furthers our mission to enable brokers to focus on arranging the most comprehensive insurance policies in the UK while we focus on providing insurance consumers a superior range of flexible and economic payment plans."
Applied TAM allows brokerages 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.
"Premium pricing and the availability of financing options are key factors driving today’s consumers satisfaction with their insurance coverage, requiring UK brokerages to evolve business and customer service models to deliver a differentiated offering," said Jeff Purdy, senior vice president of International Operations, Applied Systems. "Through integration with Close Brothers Premium Finance, brokerages can now quote, bind a policy, and arrange financing as part of the same process in Applied TAM, increasing staff productivity and improving client service to drive business growth and profitability."
# # #
About Applied Systems
Applied Systems is a leading provider of software that powers the business of insurance. Applied is recognised as a pioneer in agency and brokerage management systems and data exchange between agencies, brokers, carriers and their clients. Automating the insurance lifecycle for more than 140,000 insurance professionals, 12,000 agencies and brokerages, and 350 carriers worldwide, Applied enables millions of people around the world to safeguard and protect what matters most.
About Close Brothers Premium Finance
Close Brothers Premium Finance helps businesses and individuals pay their insurance premiums by spreading the cost over regular instalments.
Premium finance is a convenient alternative to paying in one lump sum, allowing customers to manage their finances more easily or free up capital for other uses.
With over 35 years’ experience in the industry, Close Brothers Premium Finance is a leading provider of premium finance. We provide expert support and service to over 3,000 brokers across the UK and Ireland.
Close Brothers Premium Finance is part of the Close Brothers Group, the largest independent merchant banking group in the UK. This provides financial stability so that we can offer our customers the best products, and we pride ourselves on giving both our brokers and their clients the best possible service and support.