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.

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Posted by Steve Pieroway on May 6, 2019

Policy Works releases cloud-based analytics for commercial lines

Accessing commercial lines analytics has been a challenge for insurance brokers. Until now. Policy Works introduces the first out-of-the-box suite of commercial lines analytics that incorporates policy and workflow data.

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Posted by Kathleen Kotchon on April 1, 2019

Commercial lines analytics to be used on the Canadian space shuttle

The Canadian Agency for Stuff in Space (CASS) announced today they’ll be forming a partnership with Policy Works Inc. (PWI) to incorporate data analytics provided by participating commercial insurance brokers into the Canadian space shuttle mission.

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Posted by Kathleen Kotchon on September 10, 2018

Policy Works introduces commercial lines data exchange API with RSA Canada

Re-entering data into commercial lines quoting portals and underwriting systems has been a challenge for brokers and underwriters alike. Policy Works Inc. and RSA Canada aim to reduce the pain of duplicate entry with their new commercial lines data exchange initiative with straight-through processing technology built on Policy Works’ Smart Doc™ API.

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Posted by Kathleen Kotchon on July 11, 2018

Policy Works Inc. Introduces CSIO’s My Proof of Insurance eSlips Functionality for Commercial Fleets

Policy Works Inc. is pleased to announce they’ve partnered with the Centre for Study of Insurance Operations (CSIO) to integrate the My Proof of Insurance eDelivery solution for commercial auto electronic pink slips (eSlips) into Policy Works’ next product update, scheduled for September, 2018.

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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. 

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Posted by Steve Pieroway on April 4, 2018

Policy Works revamps structure to focus on growth

Policy Works Inc. is pleased to announce an internal reorganization that aligns the company's structure with its strategic vision. To drive growth, two divisions have been created under the reorganization: one focused on the broker channel and one on strategic partnerships.

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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.

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Posted by Policy Works on October 19, 2017

Policy Works and Surety Source partner on integrated point-of-sale surety product solution

Policy Works Inc., Canada’s leading provider of commercial lines solutions, and Surety Source, a surety MGA that provides surety products to insurance brokerages across Canada and beyond, are pleased to announce the release of an integrated surety solution that allows brokers easy access to a full suite of surety bonds directly from the Policy Works platform.

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Posted by Policy Works on October 16, 2017

Totten selects Policy Works to issue commercial policies

Policy Works Inc. is excited to announce that Totten Insurance Group (Totten) has selected Policy Works as its commercial policy production system.

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