Applied Systems SVP Discusses Digital Transformation in Insurance Sector
1 report, 1 independent
Updated Oct 6
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What happened
Matt Lane, SVP of Product at Applied Systems, noted that the insurance industry is still in early stages of digital transformation. He stated that his work focuses on what brokers do daily, aiming to automate tasks that currently require human input. Epic, the company's flagship agency management software, currently has 200,000 active users, who conduct over 200 million searches annually.
Why it matters
The usage metrics for Epic show that brokers spend the majority of their time reviewing and validating policy information. This indicates a significant opportunity for software to improve operational efficiency and reduce manual labor costs within the insurance sector.