Introducing Applied Book Builder
Today, Applied Systems introduced an innovative feature called Applied Book Builder™, a state-of-the-art tool designed to help insurance producers and account managers discover new opportunities while simplifying the renewal process. This new solution works smoothly with Applied Epic™, enhancing its capabilities for managing commercial lines prospects.
Using AI to Improve User Experience
Launching in the first half of 2025, Applied Book Builder will utilize artificial intelligence to boost its offerings. This advanced technology will enhance commercial risk profiles by drawing from a wealth of publicly available information. The goal is to address any policy gaps and provide accurate insights for market placements that match the needs of customers.
Key Features of Applied Book Builder
This solution comes packed with several essential features that distinguish it:
- Commercial Risk Enrichment: By simply entering a business name and address, users can generate detailed risk profiles or enhance existing accounts with data from multiple sources, significantly cutting down the time spent on research.
- Account Rounding Recommendations: AI-generated insights will pinpoint coverage gaps within Applied Epic, enabling the quick identification of potential cross-sell and upsell opportunities.
- Lead List Automation: Users can effortlessly import lists of prospects, expanding their business opportunities without the hassle of data re-entry.
- Market Placement Insights: Recommendations will be provided on coverage placements, ensuring decisions are informed by data showing where similar risks have previously succeeded.
The Hurdles in Commercial Insurance
Anupam Gupta, chief product officer at Applied Systems, noted that commercial insurance producers often struggle with the time it takes to identify promising opportunities for cross-selling and upselling. This situation frequently results in a reactive sales strategy, potentially leading to lost revenue. Applied Book Builder confronts this issue directly by reshaping how producers and account representatives interact with data to drive new premium growth.
Empowering Insurance Professionals
By simplifying prospect research and data collection processes, Applied Book Builder aims to free up valuable time for producers and account teams. This empowerment is vital in a competitive environment where both efficiency and revenue generation are critical.
The Future of Insurance with Applied Systems
Applied Systems is a recognized leader in providing cloud-based solutions for the insurance industry. Through innovative tools like Applied Book Builder, they are dedicated to improving the operational capabilities of insurance professionals worldwide. This commitment not only enhances sales effectiveness but also ensures that clients receive tailored insurance solutions that meet their specific needs.
Frequently Asked Questions
What is Applied Book Builder?
Applied Book Builder is an AI-enhanced solution aimed at helping insurance professionals with commercial risk profiling and increasing cross-selling opportunities.
When will Applied Book Builder be available?
The product is scheduled to launch in the first half of 2025, introducing its users to a range of innovative features.
How does AI enhance the functionality of Applied Book Builder?
AI improves risk profiles and highlights coverage gaps, delivering insightful information for better market placements.
What are the main features of Applied Book Builder?
The primary features include commercial risk enrichment, account rounding recommendations, lead list automation, and market placement insights.
How does this solution benefit insurance producers?
It streamlines prospect research and helps find new business opportunities, increasing overall efficiency and profitability.
