Partnership to enable greater insurer-brokerage connectivity
Mississauga, ON (June 6, 2018) – Applied Systems® today announced a partnership with Economical Insurance to extend greater insurer-brokerage connectivity in support of the company’s Vyne™ initiative. In extending greater rating connectivity that includes real-time BMS upload, data exchange, and quoting integration, the partnership enables Economical to provide brokerages with customer-centric products and pricing, faster service, and streamlined rating workflows.
“Our Vyne platform gives brokers a new way of doing business with us for personal lines and individually rated commercial auto,” said Alice Keung, SVP and Chief Transformation Officer, Economical Insurance. “Partnering with Applied Systems has allowed Economical to support our broker partners through a real-time data exchange that creates a more connected experience at every step of the insurance lifecycle.”
“Pace of business and changing consumer demands has created a need for greater connectivity across the insurance lifecycle to increase access to products and ease of doing business,” said Jeff Purdy, senior vice president of International Operations, Applied Systems. “We are excited to partner with leading insurers like Economical on these industry initiatives to enable stronger insurer-brokerage relationships.”
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 life cycle, Applied’s people and products enable millions of people around the world to safeguard and protect what matters most.
About Economical Insurance
Founded in 1871, Economical is one of Canada’s leading property and casualty insurers, with more than $2.2 billion in annualized premium volume and over $5.4 billion in assets as at March 31, 2018. Headquartered in Waterloo, ON, this Canadian-owned and operated company services the insurance needs of more than one million customers across the country. Economical conducts business under the following brands: Economical Insurance, Economical, Western General, Economical Select, Perth Insurance, Sonnet, Petsecure, Economical Financial, and Family Insurance Solutions.
SOURCE: Applied SystemsTags: Applied Systems, Broker Connectivity, Economical Insurance, Insurer Connectivity, partnership, Vyne