Swiss insurer Zurich has partnered with American technology company Applied Systems to distribute its motor insurance plans using the Applied Epic platform and Applied TAM.
To support the distribution, Zurich will link its Insurer Hosted Pricing platform with the Applied Rating Fulfilment Services.
Under the arrangement, the Swiss insurer will maintain pricing in its rating engine, while Applied Systems will manage connectivity, quote offering and the exchange of data among Zurich, brokers and policyholders.
Applied Systems senior vice president of international operations stated: “Through this partnership, Zurich will be able to update their rates in real time, providing brokers with accurate and competitive rates to deliver business growth for all stakeholders across the insurance lifecycle.”
Serving as a leading data exchange platform for the UK insurers, Applied Rating and Fulfilment Services allow insurance firms and brokers to market their personal and commercial lines products.
Linking insurers to a broker’s back-office system, the Applied Rating and Fulfilment Services also automates the rating and policy fulfilment procedure for both insurers and brokers.
Commenting on the collaboration, Zurich head of personal lines Phil Ost said: “At Zurich our goal is to create ease of doing business when connecting to brokers.
“Our partnership with Applied Systems will bring increased sophistication in our rating, delivering more competitive quotes to our broker partners, together with point of quote validation to enable quicker decision-making and smoother on-boarding for new customers.”