Applied launches “translation services” to improve broker-insurer connectivity

Applied Systems announced Wednesday the launch of its insurer “translation services,” allowing Canadian insurers to translate and distribute policy-related data directly into [broker] management systems.

The translation services provide the connectivity technology required to easily move data between insurer and brokerage systems across the insurance lifecycle – including quoting, binding, servicing, and ultimately renewal.

Jeff Purdy, senior vice president of international operations with Applied, says the translation services will enable a roundtrip experience for brokers, and support the insurers’ ability to provide the automated rating and servicing that digital brokers desire.

“The insurance industry is undergoing digital transformation, creating new opportunities for brokerages and insurers to more securely and efficiently exchange information for quicker business transactions and more connected customer service,” Purdy said in a release.

Applied is supporting the Canadian Guidewire Users Group and is a North American partner of Guidewire. As of August 2017, the group included representatives from Aviva Canada, Economical Insurance, Red River Mutual, and Wawanesa Mutual Insurance Company.

The group engaged technology solutions provider Guidewire to develop the process in collaboration with software vendors Keal Technology and Custom Software Solutions. Also connected to the project were the Centre for Study of Insurance Operations (CSIO) and the Insurance Brokers Association of Canada (IBAC).

The Canadian Guidewire Users Group was also backed by Applied Systems and Zycomp Systems, which develops computer management systems.

Applied reported that it works with the “majority” of insurers to provide translation services, including those using Guidewire systems, and is currently collaborating with insurers participating in the Canadian Guidewire Users Group.