PSC Insurance Group has developed a new online platform called APEX for its brokers and network partners to source product pricing quotes from insurers and underwriting agencies. 

APEX has been operating since June 1 and its launch follows PSC’s departure from the Steadfast network at the end of May. 

PSC MD Tony Robinson says for now the new platform – which was designed and largely built internally – provides its brokers with efficient access to products via Sunrise Exchange, and via direct interfaces with non-Sunrise Exchange insurers. 

“It’s designed for brokers to effectively get better outcomes for their clients,” Mr Robinson told insuranceNEWS.com.au. 

“We believe that having this platform, being in charge of its development, its direction and the pace of that development is an important part of ensuring brokers and partners can effectively provide the best outcomes to clients.  

“We’re really delighted to be building our capability to do this better and faster. It’s the right time for us to be having this capability inside our business to ensure brokers and partners are able to operate in the most productive way. That’s what we’re trying to do.” 

He says PSC has been “considering for a while” having its own broker-client tool and the decision to go ahead with APEX only came about after the business “felt comfortable” the technology for building a platform effectively and efficiently was available, tying in with its long-term goals. He says the APEX build made use of tools such as Application Programming Interfaces (APIs) and Robotic Process Automation “to quickly achieve a product and outcome”. 

“The beauty of the way we are building APEX is that it is flexible enough to go on expanding the number of underwriters, underwriting agencies, risk carriers and services that are available to the brokers using it,” Mr Robinson said. 

“Because of our approach to the development of this platform it means that over time we’re going to be in a situation where APEX can go on evolving. For example, we can expand the number of insurers and continue to remove duplication errors by expanding the interfaces into other internal and external systems.” 

Mr Robinson says APEX is a “piece of work in progress”, meaning PSC is continuously “trying to make it better so that brokers get better productivity and client outcomes”. 

In developing APEX, he says PSC has proceeded with a version of what’s known as a Minimum Viable Product (MVP) approach. He says PSC has launched APEX knowing it delivers a minimum standard with the expectation of continued development as it “listens to and responds to users’ needs and feedback”. 

Technology consultancy Gartner describes the MVP approach as the release of a new product – or a major new feature – that is used to validate customer needs and demands prior to developing a more fully featured product. 

“From here on we are continuing to drive the development of it in a way that we think will go on helping brokers build their businesses and productivity in their business,” Mr Robinson said. 

As part of these steps PSC negotiated agreed product wordings and enhancements across all major insurers. 

“Inside PSC it’s a step forward for us. Brokers are finding it helpful and there are brokers who are finding it is something they want to help us make better. We are very excited about the future phases and the upside that will provide to our brokers and network partners and clients of those businesses.”