Applied Systems and Bravo Networks Expand Partnership to Support Client Money Management in Applied Epic
07 May 2024
Bravo Networks to support Applied Epic brokers in handling client money for greater time and cost savings
Brighton, UK – May 7, 2024 – Applied Systems Europe® today announced an expanded partnership with Bravo Networks to support client money management for Applied Epic brokers. The partnership has enabled the network and broker management system provider to complete architecture enhancements that deliver new reporting functions and compliance assurances, allowing Bravo Networks to support brokers with, their FCA compliance responsibilities thereby enabling additional cost savings and scalability.
“At Bravo Networks, it’s all about evolving the broker proposition and acting as an extension of each brokerage’s in-house team,” said Scott Bennett, Managing Director, Bravo Networks. “As we have a growing number of Epic brokers in our network, we are pleased to add Applied Epic to the list of systems we can support for client money functions so our team to help them navigate the regulatory landscape in an easy and cost-effective manner.”
Client Money refers to the risk management services for this highly regulated and specialised area, including completion of client money bank reconciliation and insurer payments. Applied Epic brokers can work directly with Bravo Networks to set up their client money function and receive benefits including management of external audit and relief of bank charges on the business client money account, among others.
“Brokers are focused on providing the best advisory services to their clients, so leveraging the Bravo Networks allows them to extend their teams’ capabilities and reduce the time and expense of handling client money,” said Tom Needs, chief executive officer, Applied Systems Europe. “We are thrilled to partner with Bravo Networks, enabling Epic brokers within the network to spend their time and energy where it matters most each day.”
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About Applied Systems
Applied Systems is the leading global provider of cloud-based software that powers the business of insurance. Recognized 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.