Applied’s UK Epic withdrawal a “sad day” for brokers
Applied Systems pulling its Epic offering from the UK underlines how competitive the market is but is sad news for brokers and staff, according to experts.
“It is a sad day for the people involved, a sad day for the brokers involved and a sad day overall for the market,” Andy Fairchild, CEO of M&A at Idex Consulting said after Insurance Age revealed the news of the withdrawal.
Fairchild was the predecessor of Applied Systems Europe CEO Tom Needs.
In its statement confirming the news Applied had cited “steep competition” and challenges “to align with insurers on agreements to distribute their products in the commercial lines segment”.
EntranceApplied
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