MISSISSAUGA, ON, March 30, 2021 (GLOBE NEWSWIRE) — Applied Systems® today announced a partnership with Edge Mutual Insurance Company to enable real-time rating in commercial lines. Using structured commercial lines data and data-driven processes, broker partners will gain an automated quoting process for small business customers via Applied Policy Works, eliminating the need to rekey data and shortening commercial quote response times.
“The commercial lines quoting process has historically caused friction between insurers and brokers due to the manual nature and broken processes,” said Carlos Rodrigues, president & chief executive officer, Edge Mutual Insurance Company. “We are excited to partner with Applied to provide an automated commercial lines quoting process to our broker partners that will standardize the data capture and exchange processes, allowing us to manage a larger volume of quotes at a faster pace and delivering a simpler quoting workflow for brokers.”
Applied is automating the commercial lines quoting process between brokerages and insurers via modern data exchange. Using Applied Policy Works, brokers can submit a quote request directly from the application to multiple insurers and eliminate the need to re-key data into insurers’ portals. Insurers can then identify and streamline packages that are most suitable for quote-to-bind, enhancing response time on commercial quotes and increasing broker confidence in commercial products.
“SME business is the most commonly quoted and transacted business in Canada, and yet it is also the most inefficient quoting process for both insurers and brokers,” said Steve Whitelaw, vice president of Industry & Partner Relations, Applied Systems. “Applied and Edge Mutual Insurance Company are working together to increase broker-insurer connectivity through APIs and standardized data, enabling all stakeholders to more easily work together and deliver the best products to end-customers.”
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.
About Edge Mutual
Edge Mutual Insurance Company is a progressive P&C insurance carrier that has been protecting Ontario communities for over 130 years. Formerly known as Peel Maryborough Mutual, the company rebranded in 2015 to better represent the province-wide orientation and positive culture within the organization. With a growing network of dedicated insurance brokers, the company has leveraged strong relationships, superior service and innovation to form rewarding partnerships with high performing brokerages and vendor partners. The company continues to expand their suite of tools and products for commercial lines, agri-business, and personal lines, to meet the changing needs of the people and communities they serve.
