Applied Systems Connects to AXA’s Rating Engine
Connection to ensure brokers receive latest competitive premium quotes through AXA’s insurer hosted pricing service
Brighton, UK – 30 Nov 2017 – Applied Systems today announced that the company will connect into AXA’s rating engine through Applied Rating and Fulfilment Services to continue distributing its Motor product via Applied TAM. Through this partnership, AXA will maintain control of quoting in their rating engine and Applied Systems will support the connectivity, data exchange and policy binding between AXA, brokers and policyholders.
Applied Rating and Fulfilment Services delivers the UK insurance industry a leading connectivity and data exchange platform, enabling insurers to quickly and effectively distribute their personal and Commercial Lines products. Applied Rating and Fulfilment Services connects insurers to a broker’s back-office system, automating the rating and policy fulfilment process for both insurers and brokers. Applied Rating and Fulfilment Services provides insurers flexibility to manage their rates and respond to market shifts – whether in real time through Applied’s rating solution, an industry e-trading standard, or their own extranet. Applied Rating and Fulfilment Services also connects to third party data providers to provide insurers with up-to-date, clean data, allowing for more accurate risk analysis, reduction in potential fraudulent policies, and more competitive products and premiums.
Applied TAM allows brokers to automate daily operational processes, customer policy information, and insurer connectivity, enabling users to be more productive and focus on the core business of selling insurance and serving the policyholders. Through an automated and easy-to-navigate interface, Applied TAM provides deep visibility into day-to-day business operations to reduce time spent on administrative tasks, decrease errors and omission risk, provide a seamless employee onboarding and training experience, and better respond to customer needs.
“The Personal Lines market has become increasingly more complex, requiring insurers to expand their product distribution channels and proactively manage premium rates in real time to further enhance their business value,” said Jeff Purdy, senior vice president of International Operations, Applied Systems. “Through this partnership, AXA will be able to maintain control of their policy quoting and adjust rates at any moment while continuously providing brokers with the best products and premiums, delivering benefits of business growth and client satisfaction across all key stakeholders of the value chain.”
# # #
About Applied Systems
Applied Systems is the leading global provider of cloud-based software that powers the business of insurance. Recognised 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.