13 April, 2018 07:00
By launching its module Applied Analytics, Applied Systems wants to give back to the brokers control of their business intelligence. Not until they had lost it, but rather because it was complex to collect.
Brokers have a habit of producing a multitude of Excel files to get a glimpse of their sales, have the detailed portrait of their customers or see the volume of premiums they have from an insurer.
Applied Analytics will give them all this in a glance and in real time, explained Philippe Joassin, vice-president, sales and business development, of Applied Sytems, Journal of the insurance.
The portrait at a glance
“We want to bring brokers something solid in terms of analytics and that covers all of their data, both in regards to their income than their sales. We want to allow them to go further than to produce a multitude of reports to find the answer.
“With what we offered them, they can more easily achieve comparable. They will have a glance in a table. The brokers are thus able to react more quickly, ” he said.
Applied Analytics will also go a step further. The module, available only in its broker management system called Epic, will allow them to create algorithms. The module will generate alerts, allowing it to identify its best prospects.
For example, Mr. Joassin of a client of which the broker-dealer provides the automobile, but not the house. Applied Analytics will give him this intelligence business, he said, while targeting the risks of the more interesting.
“The module will be able to develop this algorithm and identify what is the price of the premium of the client. The one who has two BMWS in his court will be judged to be more attractive than one who pays $ 300 for the insurance premium of his Honda Civic. The module will take the opportunity to earn a higher income, not just to close a transaction, ” he says.
Brokers will also have the option to transpose the data from the Applied Analytics in an Excel file if they wish. There will even be a Excel button on their screen that will allow them to do so and send it directly in a tab.
One more step toward the independence of the firm
“The brokers had a tendency to rely on their insurers to get out these statistics. We want to get them to change their stance in this sense. They will be able to segment their data by the insurer, also. It leads them to take control of their data, ” says Mr. Joassin.
The module Applied Analytics is not available in the package to start of Epic. Brokers must pay an additional amount for the use.
The module will be available starting April 4th in Quebec, but only in English. The translation of the module is underway, but will take some time, ” said Mr. Joassin.
Applied Systems has a fifty brokerage firms in Quebec, which uses its broker management system. Around 700 users who use it daily.