Applied Industrial Logic (AIL), UK-based information technology company specializing in serving the insurance market, recently informed MicroCapital that it is currently building OpenQuote 2.0, an open-source software package with features intended to be of particular interest to microinsurance firms including microinsurance-specific policy administration, claims management, reporting and distribution channel support. The latest available version of the software, OpenQuote 1.4SP1 allows commercial insurers, brokers and agents to manage their products online by configuring risk capture, risk assessment and rating rules. Other features of the software include producing insurance quotes online; handling multiple insurance and business products simultaneously; integrating policy administration; and informing brokers, clients and underwriters as quotes are generated and accepted. The software is offered to clients with no associated licensing, distribution or transaction costs. The date of release for version 2.0 has yet to be announced.
By Jennifer Young, Research Associate
About Applied Industrial Logic
Established in 2002, Applied Industrial Logic (AIL) is a United Kingdom-based information technology company that specializes in the insurance market. AIL offers OpenQuote, a free, open-source software package as well as insurance product development consulting, web hosting, integration services, OpenQuote certification programs and commercial support services including creating and remodeling client websites to improve search engine optimization (SEO) and e-marketing. As of 2012, AIL reported that its OpenQuote software has been downloaded approximately 13,000 times.
Sources and Additional Resources
Information submitted by Applied Industrial Logic to MicroCapital.
Applied Industrial Logic Website:
MicroCapital Story: “MICROCAPITAL BRIEF: Microinsurance Network Launches Capacity Building Tools Inventory,” June 5, 2012.
MicroCapital Universe Profile: Applied Industrial Logic
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at http://www.microcapital.org/products-page/.