Applied Systems to pull Epic proposition from UK broker market

Applied Systems has announced that it will be withdrawing its Applied Epic proposition from the UK.

The software house said it is making the move following a strategic business review, with the firm feeling that there are a series of difficult challenges to navigate in the UK broker management system (BMS) market.

This includes complex product requirements and steep competition. Applied Systems also said it had been especially challenging to align with insurers on agreements to distribute their products in the commercial lines segment.

Applied Systems will now redirect investment into markets and products where business results are accelerating.

Tom Needs, chief executive at Applied Systems Europe, said: “The UK insurance market has long craved new broker technology innovation and we made a strategic decision as a global business bringing Applied Epic into the UK market – a decision that we hoped would offer the market more choice in insurance technology options.

“Applied Systems is committed to doing the right thing, fulfilling our customer commitments and ensuring all our customers receive optimal business support throughout this process.

“We greatly appreciate the partnership so many of our customers and partners have provided us in creating opportunity for Applied Epic to make an impact on their business and are refocusing on the next chapter of our European business.”

’Struggled to deliver’

Applied Epic first launched in 2018 with lighthouse customer A-Plan, which is now Howden.

Among features include sales automation, allowing brokers to view, monitor, track and forecast new business opportunities and renewals directly within the application.

It also integrates with brokers’ customer self-service portals and mobile apps.

Taylor Rhodes, chief executive at Applied Systems, said: “Our decision to bring Applied Epic into the UK market was based on our belief that the UK broking community desired new BMS alternatives, but we struggled to deliver a fully featured product in the face of competitors with incredibly strong positions in the market.

“As in any business, you take calculated risks and some of them play out and return significant value and others do not.”

As part of the strategic review, Applied TAM, Applied Rating Hub and Applied RiskHandler products in the UK will continue to be supported and the business will continue to invest in and operate its business in Ireland.

Rhodes added: “While this investment did not work out, recognising this fact now presents us with the opportunity to reallocate capital toward other investments that are supporting our winning position in our other markets.”