Applied Systems has announced that it will withdraw its broker management platform Applied Epic from the UK market. The firm said it would support customers on existing contracts and said other products such as Applied TAM, Applied Rating Hub services, and Applied Riskhandler would not be affected. The firm said the decision to withdraw followed a strategic review and that it wanted to focus on markets where it had more traction.

In a statement, the firm said: “Applied has made strides in the UK market since its entrance in 2013 with the acquisition of Insurecom. With Applied Epic’s launch in 2018 with lighthouse customer A-Plan (now Howden), we saw strong early market response but have experienced tempered growth as a function of tough market dynamics, particularly in commercial lines.

“Despite ongoing product development for Applied Epic in the UK, we continue to underdeliver customer value. Due to the tough market dynamics, we believe the investment and time required to get Applied Epic into a winning position in the UK market are not defensible considering other opportunities where we believe we can win at a larger scale.

“While this has been a difficult decision to make regarding our Epic UK business, we will continue to invest in and support Applied TAM, Applied Rating Hub and Applied Riskhandler products in the UK and remain fully committed to our Republic business and customer base.”

Taylor Rhodes, chief executive officer of Applied Systems, added: “Our decision to bring Applied Epic into the UK market was based on our belief that the UK broking community desired new BMS alternatives, but we struggled to deliver a fully featured product in the face of competitors with incredibly strong positions in the market.

“As in any business, you take calculated risks, and some of them play out and return significant value and others do not. While this investment did not work out, recognising this fact now presents us with the opportunity to reallocate capital toward other investments that are supporting our winning position in our other markets.”