Brighton, UK (PRWEB UK) 3 March 2015
Applied Systems today announced that Applied TAM UK, the most widely used brokerage management system in the world, will connect to the MIB Hub to use the MyLicence service. MyLicence will enable Applied TAM UK brokers to provide more accurate risk assessments for insurer premium pricing and will go live in Applied TAM UK Q2 2015.
UK brokers will be able to enter a consumer’s Driving Licence number into Applied TAM, which will be connected to the MyLicence service to obtain complete and accurate driving history directly from the DVLA database. This information – driving endorsements, entitlements and penalty points – is then submitted to insurers for use at point of quote. Through this secure integration, brokers will be better able to provide more competitive premiums to clients and remove the potential for policyholders to provide inaccurate driving history.
“Consumer data continues to grow at an exponential rate, providing key insurance industry stakeholders a critical opportunity to leverage this valuable information for more accurate risk-assessment and underwriting,” said Jeff Purdy, senior vice president of International Operations, Applied Systems. “By connecting Applied TAM to the MIB Hub and using the MyLicence service, brokers will be able to enhance their competitive value by offering lower premiums and quicker client servicing, further enabling business growth and profitability in today’s evolving marketplace.”
Neil Drane, Head of Database Services at MIB, added, “We’re very pleased to be welcoming Applied Systems to MyLicence. Applied Systems will be able to provide this quick and valuable data enrichment service to their clients, enabling brokerages and insurers to better mitigate fraud and provide a fairer, more accurate quote and renewal process for motorists.”
About Applied Systems
Applied Systems is a leading provider of software that powers the business of insurance. Recognised as a pioneer in insurance automation and data exchange between brokerages, insurers and their clients, Applied is the world’s largest provider of agency and brokerage management systems. Automating the insurance lifecycle for more than 12,000 agencies and brokerages and 350 insurers worldwide, Applied enables millions of people around the world to safeguard and protect what matters most.
About MyLicence
MyLicence is a service for insurance providers and has been developed as part of a joint partnership between the Motor Insurers’ Bureau (MIB), Driver Vehicle Licensing Agency (DVLA) and Association of British Insurers (ABI). The service enables insurers to securely check the driving record and history of motorists at the point of getting an insurance quote or renewal. By using the driving licence number of motorists who hold a driving licence which was issued in England, Scotland and Wales, a real-time data link to the DVLA will help insurers provide fairer premiums and fight motor insurance fraud. For more information visit http://www.mylicence.org.uk
About the Motor Insurers’ Bureau (MIB)
MIB aims to significantly reduce the level and impact of uninsured driving by working closely with partners across government and the insurance industry. The Bureau assists and compensates UK victims of accidents with uninsured, untraced or foreign registered drivers. It also provides data management services to insurers, the government and its agencies. For more information visit http://www.mib.org.uk.