Company News

Posted by Policy Works on October 15, 2019

Applied Systems Acquires Policy Works

University Park, Ill.  Oct. 15, 2019 – 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.

Read More

Posted by Steve Pieroway on May 15, 2018

Policy Works develops commercial-lines rating API

Policy Works is excited to announce the release of its newly developed Rating API. The API enables automatic rating of commercial policies by seamlessly integrating third-party rating services into the Policy Works workflow. 

Read More

Posted by Steve Pieroway on February 28, 2018

Policy Works unveils industry's first Bordereau reporting functionality

Are you an issuing broker? Are you required to submit a bordereau? If you're a Policy Works customer, creating bordereaux just got a whole lot easier.

Read More