Edge Mutual partners with Applied
Applied Systems 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.”
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.”