Insurance software company Applied Systems will unveil the latest release of its browser-based agency management software Epic on April 27.
Applied Systems said Epic 6 provides for more streamlined agent-carrier communications, particularly for commercial middle-market business. The new efficiencies are achieved by the software’s “enhanced policy marketing workflows, expanded real-time options, and new methods for agencies and carriers to exchange information and attachments,” according to the company.
Applied Systems said Epic 6 also offers new accounting features that enable agencies to manage producer/broker commission payables and revenue sharing among agencies. It also allows agencies to allocate expenses across multiple agencies and to generate comparative financial reports.
Applied Systems’ main customer base is small and midsized agencies with its The Agency Manager (TAM), DORIS and Vision systems. However the company believes that its Epic management system, released in 2008, is a market changer. Epic is an Internet-based — or cloud— application that is scalable to agencies and brokerages of any size.
Insurance agencies are adopting Epic faster than any other agency management system in Applied Systems’ history, with 400 agencies and brokerages now relying on Epic software, according to the company.
The system is helping Applied Systems grow overall and make inroads with larger brokerage firms. Since its introduction in 2008, Epic has attracted 16,000 users including thousands from large brokers Willis and Arthur J. Gallagher. Applied would like to reach more in this market while also hanging into its core constituency of mid-sized agencies, CEO Reid French said in a recent interview with Insurance Journal.
“With the newest Epic release, our customers have even greater capabilities for continued growth, revenue production and productivity,” said French. “Epic’s advanced technology, flexible platform and streamlined, customizable workflows are allowing ever-increasing numbers of agents and brokers to achieve higher levels of performance and realize greater value in their businesses.”