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Chase Petrey, President, Applied Pay is honored in the 2025 Class of Forty Under 40 by Utah Business.
Navigating career transitions can prove to be daunting without the right support in place. As Sarah Field grew into a leadership role within the Product Management team at Applied Systems, she found that her experiences could serve as a resource for others looking to grow into their potential. Sarah, now a Director of Product Management, draws on what she’s learned to provide career support to mentees within the organization as well as to advocate for women across the insurtech industry.
As one of the first executives in an insurtech startup that was recently acquired by a leading software company, and a former chief data officer for AIG, I have had the opportunity to reflect on the AI lessons we have learned over the past six years from a holistic perspective. AI has transformed the insurance landscape, and our startup journey was marked by significant milestones that required us to frequently reshape our approach to building our company and delivering actual, sustainable AI solutions to carriers.
Elad Tsur, the chief AI officer of Applied Systems, joined Applied in July 2024 with the acquisition of Planck, a company that Tsur helped co-found in 2016. Planck is an AI-based data platform for commercial underwriting. “We started Planck with the belief that access to real-time data to get a full picture of a business is more crucial than ever when identifying the actual risk factors that are core to insurance,” Tsur said in statement in July.
Applied Systems today announced that the company and two of its subsidiaries, Ivans and EZLynx, have been named to PropertyCasualty360’s Insurance Luminaries Class of 2024 in the categories of Technology Innovation and Innovation in Workplace Culture. The Technology Innovation category recognizes those advancing the insurance industry through digitalization and customer experience improvements. The Innovation in Workplace Culture category honors those enhancing the industry's reputation as a career choice and promoting employee satisfaction through diversity, wellness, ESG initiatives, and community service.
Artificial intelligence (AI) is rapidly transforming the insurance industry by streamlining complex processes, reducing operational inefficiencies, and enhancing customer service. Applied Systems, through its AI Lab, has been at the forefront of these innovations, using AI to come up with innovative tools to improve workflows such as email summarisation, document extraction, and transaction handling.
Applied Systems has announced Applied Book Builder™, a new solution embedded in Applied Epic® that helps insurance producers and account managers target new commercial prospects and optimize cross-sell and upsell opportunities. Launching in the first half of 2025, the tool will use AI to enhance risk profiles and identify coverage gaps, providing actionable insights for better market placement. Key features include automated risk enrichment, AI-driven account recommendations, lead list automation, and carrier placement insights, aimed at accelerating business growth and profitability for agencies.
Applied Systems® today announced the latest enhancements of Applied Pay®, the industry’s only AMS-native payments solution, that continue automating the end-to-end payments journey. New innovations, including premium payment receipt reconciliation, one-click payment routing, and the insured checkout experience, further automate workflows for collecting and reconciling digital payments, enabling an agency to reduce time and effort by up to 70%. Continued streamlining of the premium payment lifecycle has led to more than 900 agencies adopting the platform since its launch in October 2022.
CSIO congratulates Applied Systems Canada (Applied) on achieving CSIO’s eDocs Certification. Applied has confirmed that all 40 updated eDocs codes and descriptions have been implemented in both their Broker Management System (BMS) platforms, Applied Epic and Applied TAM, for personal and commercial lines.
Applied Systems® today announced that the company was recognized as a Global 5-Star Insurance Technology Provider 2024 by Insurance Business. Applied received the award for its continued commitment to alleviating long-standing industry challenges through innovation and fully connecting the Digital Roundtrip of Insurance, delivering a seamless end-to-end experience for all stakeholders.
