University Park, Ill. (PRWEB) March 31, 2016
Applied Systems today announced the release of Applied PerformanceManagement 2016 to U.S. and Canadian insurance agencies and brokerages. Applied PerformanceManagement 2016 offers principals and executive management with additional insights into an agency or brokerage’s book of business for more comprehensive analysis of client retention and business distribution by geography.
Applied PerformanceManagement is the first business intelligence solution built specifically for independent insurance agencies and brokerages. Fully integrated with both Applied Epic and Applied TAMOnline, Applied PerformanceManagement allows executives to obtain greater business insights from their existing management system data to make quicker, more informed business decisions. Applied PerformanceManagement presents data in an easy-to-understand visual interface with graphical dashboards that deliver multiple levels of analysis on key performance business indicators for an agency or brokerage’s book of business, employee operations and insurer relationships to drive greater employee productivity and increase profitable relationships with clients and insurers. Applied PerformanceManagement is a cloud-based business intelligence solution that can be implemented quickly into agency and brokerage operations through seamless integration with Applied Epic and Applied TAMOnline.
Key Applied PerformanceManagement 2016 enhancements and benefits include:
- New Executive Summary Dashboard: Applied PerformanceManagement 2016 now features an Executive Summary Dashboard which provides insight into current client, revenue and policy data. The Executive Summary dashboard delivers powerful visibility into an entirely new range of performance metrics, including top expiring accounts and annual revenue change, and simplifies filter options to provide analysis on the current month against the last month and the same month from the previous year.
- Expanded client retention analysis: Applied PerformanceManagement 2016 expands retention analysis to provide insight into factors that impact retention at the client and employee level. Additionally, Applied PerformanceManagement 2016 provides a view into an agency or brokerage’s “lost business” by comparing cancelled and unrenewed policies with renewed policies.
- Increased book of business analysis by geography: Applied PerformanceManagement 2016 enables users to quickly identify geographic distribution of current business mapped with third-party data of the service and farm occupations, as well as analyzes book of business trends over time with geography.
- Enhanced geographic capabilities: Applied PerformanceManagement 2016 enhances geographic capabilities by layering third-party data to identify regional housing unit growth for agencies and brokers to pinpoint regional business growth opportunities.
- Simplified user experience: Applied PerformanceManagement 2016 delivers improved usability and user experience through visual enhancements, including a new date filter, and adjustments to layout and navigation, including labels, color and filters.
“Prior to using Applied PerformanceManagement, we had limited visibility into our data within our management system to analyze business performance,” said Ryan Moniz, director of IT, Anderson Insurance Associates. “In order to enhance our competitive position, Applied PerformanceManagement became instrumental in identifying new growth opportunities to expand our book of business and evaluate our financial performance, illustrating how each aspect of the business ties back, growing our business and driving profitability.”
“Insurance agencies and brokerages sit on an abundant amount of untapped data in their management system that could provide unique business insights if properly organized and analyzed,” said Michael Howe, senior vice president of Product Management, Applied Systems. “Applied PerformanceManagement takes this data and quickly presents the information in easy-to-understand visual reports that provide insights into ‘the why’ behind a specific aspect of an agency or brokerage’s performance. The latest release of Applied PerformanceManagement further enables digital agencies to capitalize on big data by delivering additional insights on their book of business in a simple, visual and user-driven way.”
About Applied Systems
Applied Systems is the leading global provider of cloud-based software that powers the business of insurance. Recognized 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, serving customers throughout the United States, Canada and the United Kingdom. By automating the insurance lifecycle, Applied enables millions of people around the world to safeguard and protect what matters most.