Applied Systems Acquires Policy Works

MISSISSAUGA, Ont., Oct. 15, 2019 (GLOBE NEWSWIRE) — Applied Systems today announced the acquisition of Policy Works, the leading platform for commercial lines business in Canada. This acquisition expands Applied’s commercial lines solutions and demonstrates the company’s commitment to advancing connectivity between brokerages, insurers, and the  insured to create greater value for all stakeholder of the insurance lifecycle.

“In today’s competitive and complex business environment, commercial insurance customers expect more risk management services and advice, in  a growing insurance segment where the proposition of a broker is increasingly important,” said Taylor Rhodes, chief executive officer, Applied Systems. “As Canada’s leading provider of broker management systems, rating services and connectivity solutions between brokers, insurers and their clients, Applied’s acquisition of Policy Works will enable tighter integration between the combined company’s solutions to drive significant value for our customers.” 

Policy Works provides point-of-sale solutions that allow brokers to instantly create legally binding commercial lines policies. Policy Works’ P&C Issuance module for Lloyds  coverholders provides the capability  to issue Lloyd’s policies instantly, utilizing a full library of proprietary P&C wordings, and producing declaration sheets that adhere to Lloyd’s branding requirements for subscribed and non-subscribed policies. Applied is committed to further integrating Applied Epic, Applied TAM, and Applied Rating Services with Policy Works.

“In the digital age of insurance, brokerages require an integrated technology strategy to increase connectivity between insurers and insureds while automating workflows for greater efficiencies,” said Kevin Campbell, chief executive officer, Policy Works. “This acquisition provides our customers with access to new innovation, resources and scale to become digital brokerages and further accelerate growth of their businesses.”

For more information on this acquisition, please click here.

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 data exchange between brokerages, insurers and their clients, Applied is the world’s largest provider of agency and brokerage management systems, serving customers throughout the United States, Canada, Ireland and the United Kingdom. By automating the insurance lifecycle, Applied enables millions of people around the world to safeguard and protect what matters most.

Lauren Malcolm
Applied Systems
lmalcolm@appliedsystems.com
IR Press

Share
Published by
IR Press

Recent Posts

OCC Announces Enforcement Actions for November 2024

WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released enforcement actions taken against…

21 hours ago

Treasury Sanctions Gazprombank and Takes Additional Steps to Curtail Russia’s Use of the International Financial System

Treasury imposes sanctions on dozens of Russian banks, securities registrars, and finance officials; OFAC issues…

2 days ago

Acting Comptroller Testifies on State of the Federal Banking System

WASHINGTON—Acting Comptroller Michael J. Hsu today testified on the state of the federal banking system…

2 days ago

Remarks by Assistant Secretary for International Finance Brent Neiman on the U.S. Cross-Border Payments Agenda

As Prepared for Delivery Thank you very much for the opportunity to be here today, and…

4 days ago

Remarks by Assistant Secretary for Investment Security Paul Rosen at the Third Annual CFIUS Conference

As Prepared for Delivery Good afternoon.  I’d like to start by thanking our panelists today for…

4 days ago