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Company: Applied Systems, University Park, IL
Company Description: 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 the innovation leader, Applied is the world’s largest provider of agency and brokerage management systems, serving customers throughout the United States, Canada, the Republic of Ireland, and the United Kingdom.
Nomination Category: New Product & Service Categories - Business Technology
Nomination Sub Category: Insurance Solution
 Nomination Title: Applied Systems Indio
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the nominated new or new-version product or service, OR written answers to the questions for this category? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
- If you are providing written answers for your submission, you must provide an answer to this first question: If this is a brand-new product, state the date on which it was released. If this is a new version of an existing product, state the date on which the update was released:
March 8, 2021
- If you are providing written answers for your submission, you must provide an answer to this second question: Describe the features, functions, and benefits of the nominated product or service (up to 350 words):
Total 349 words used.
The manual, paper-heavy commercial lines process is time-consuming and frustrating for both the customers and insurance professionals. Indio is the application and submissions management platform that turns the traditionally cumbersome insurance application into a simple, Turbo-tax like experience to streamline the insurance form data gathering process and digitally manage and send submissions directly to insurers with a single click. In simplifying the submission and renewal process, Indio enables agencies, brokerages, and insurers to create greater efficiencies and value while providing their insureds a digital customer experience.
The core capabilities of Indio include:
- Send Carrier/Underwriters Submission Packets - Once the customer has signed and submitted an application, agents can send it to carrier underwriting directly from the platform.
- E-signature - Makes it fast and easy to sign forms, even on mobile devices. No need to download, print, scan, fax, email, and/or mail the application or renewal forms.
- Form Library - A vast library of more than 10,000 supplemental carrier forms, ACORD forms, custom agency forms and business questionnaires are digitized and fillable.
- Schedule Workbooks – Can upload existing schedule workbook data into the portal and instantly become an interactive online table so agents and clients can collaborate without the need for sharing large files and documents.
- Intelligent Activity Tracking - Agents will be notified when their customer logs into the Indio portal, fills out information, signs forms and submits data. The platform will indicate which changes were made so there is no need for agents to search line by line.
- Collaborative Environment - Multiple agency staff can access applications, allowing for an online, collaborative experience. Clients can also leave comments/questions on the application to help facilitate a streamlined process.
- Renewal Verification - When an agent creates a renewal packet, data from the prior year auto populates into the new application. The client then verifies or edits the information, which is logged in the Indio portal, mitigating Errors & Omissions exposures.
- Management System Integration - Data is exchanged between Indio and the management system to ensure information is accurate within both platforms, increasing efficiency, saving time and decreasing E&O concerns.
- If you are providing written answers for your submission, you must provide an answer to this third question: Outline the market performance, critical reception, and customer satisfaction with the product or service to date. State monetary or unit sales figures to date, if possible, and how they compare to expectations or past performance. Provide links to laudatory product or service reviews. Include some customer testimonials, if applicable (up to 350 words):
Total 340 words used.
The application and renewal process is inefficient and time-consuming across brokerages – from compiling submission packets to chasing down clients for complete applications. These inefficiencies are costly not only for internal operations, but also for the client experience. According to the 2021 State of Insurance Renewals Annual Report:
- 74% of brokerages that focus on mid-market and enterprise accounts spend up to 30 minutes looking for the correct applications and supplemental forms when putting together a submission packet
- Over 90% of all clients require additional back and forth to get applications ready for market.
Indio has been an incredible solution for insurance professionals and there is a high demand for a streamlined application and submission process. So much so that the agency adoption of Indio grew by 37% from 2020 to 2021.
Included below are some of the client testimonials describing their success.
“When sending supplemental applications to our customers, it would take between three and four weeks to get that information back. Using Indio, we receive that information back in three or four days.” – Justin Barnaky, Business Insurance Practice Leader, Bouchard Insurance
“For agencies that are questioning whether it's worth the investment to add Indio to their platforms, I would definitely say it's worth the money. The return on investment that we've gotten over the years has been really good on our return. It's really amazing when you look at it and you run the numbers, the expense is peanuts compared to the efficiencies that you gain. I would highly recommend anybody that's looking at Indio. It’s worth it now and it's probably going to be even more when that return on investment can be even greater one to five years down the road.” – Darrel Zaleski, Owner, Spectrum Insurance Group.
“I literally can’t take Indio away at this point. Between our employees and our clients, if we ever rolled the platform back, it would be one of the worst decisions we ever made.” - Sherisa Crevier, VP of Agency Operations, Parker, Smith & Feek, Inc.
- You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 205 words used.
- State of Insurance Renewals Annual Report
- Indio surveyed brokerages about their entire renewal process — from delivering renewal submission packets to their clients to receiving signed and completed applications ready to go to market.
- A Path Forward to a Digital Application and Renewal Process
- A guide that discusses and prepares businesses and customers for the digital future of commercial lines the future of commercial lines. There are key questions that ask professionals what new ways and modern technology can help their business and consider the role Indio and other technology can play in supporting their application and renewal process.
- The Future Is Now: A Guide to Adapting Your Brokerage to the New Norm
- This guide from Indio teaches how to:
- Optimize your agency’s operations for a digital future
- Adapt your agency for new customer demands
- Grow your business in times of uncertainty.
- Indio Adoption Grows by 37% Year over Year
- Press Release that announces the that the number of agencies using Indio has increased by 37% year over year.
- Customer Success Stories
- Hear what our customers have had to say about their wins with Indio
- Bouchard Insurance
- VANTREO Insurance Brokerage
- Scott Insurance
- Parker, Smith & Feek, Inc.
- Morton Insurance & Risk Management
- Gregory & Appel
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