Applied Pay Recognized for Most Innovative Product
In an exciting development, Applied Systems has announced that their flagship product, Applied Pay, has been awarded the title of Most Innovative Product at the renowned Best in Biz Awards. This esteemed recognition emphasizes the impact of Applied Pay in transforming premium collection methods, enhancing online payment experiences for clients, and empowering agents to manage transactions efficiently in real-time.
The Importance of the Best in Biz Awards
Since its inception in 2011, the Best in Biz Awards has become a distinguished accolade in North America and worldwide. What sets this awards program apart is its esteemed judging panel comprised of well-regarded writers, reporters, and editors from prominent publications like Financial Times and Forbes. This independent judging creates a high-value mark of distinction for any business recognized.
Features of Applied Pay
Applied Pay serves as a groundbreaking electronic payments hub that allows agents and brokers to offer their clients secure, online payment solutions for both new and recurrent premiums. By integrating seamlessly with systems like Applied Epic, Applied CSR24, and EZLynx Client Center, Applied Pay streamlines the payment process with branded checkout pages, allowing policyholders to pay using various methods, including credit/debit cards, Apple Pay, Google Pay, or ACH bank transfers.
Enhancing Payment Security
The platform ensures increased security through automated payment authorization and tokenization of sensitive data, promoting compliance and peace of mind for users. Additionally, it features embedded premium financing, making it easy for insured customers to request financing and finalize Premium Finance Agreements without needing to navigate away from the payment interface.
Efficient Reconciliation
With the application of intelligent automation, Applied Pay revolutionizes the process of reconciling receivables at the account level. This innovative approach significantly cuts down the time and effort typically necessary for payment reconciliations, enabling brokers to focus more on their core services rather than administrative tasks.
A Vision for the Future
Chase Petrey, president of Applied Pay, expressed gratitude for the recognition at this year's Best in Biz Awards, stating, "We’re incredibly honored to be recognized at this year’s Best in Biz Awards. As we look ahead, we plan to build on Applied Pay’s momentum by expanding more broadly into financial management, continuing to transform the payment experience for brokers while delivering the fast, convenient payment options insureds expect." This forward-thinking vision indicates that Applied Pay is committed to constant innovation and improved services in the realm of payment processing.
About Applied Systems
Applied Systems stands as a leading global provider of cloud-based software solutions designed specifically for the insurance sector. As a pioneer of automation and a recognized innovator, Applied is the largest provider of agency and brokerage management systems, catering to clients across the United States, Canada, the Republic of Ireland, and the United Kingdom. Through their advanced products and dedicated team, Applied enables millions around the globe to safeguard what matters most to them by automating the entire insurance process.
Frequently Asked Questions
What accolade did Applied Pay receive?
Applied Pay was awarded Most Innovative Product at the Best in Biz Awards.
What is Applied Pay?
Applied Pay is a cloud-based electronic payments hub that facilitates secure online payment options for premium collection.
Who judges the Best in Biz Awards?
The awards are judged by recognized writers, reporters, and editors from top-tier publications.
What future plans does Applied Pay have?
Applied Pay plans to expand its financial management services and enhance payment processing for brokers.
What distinguishes Applied Systems in the insurance industry?
Applied Systems is distinguished by its pioneer status in insurance automation and its role as the largest provider of management systems in the insurance sector.
