Applied Systems, the world’s largest provider of insurance agency and brokerage management systems (AMS/BMS), has entered into a definitive agreement to acquire Indio Technologies, a US-based technology solution for the insurance application and renewal process.
The acquisition will help Applied achieve its goal of digitizing the end-to-end commercial lines submissions process across agencies, brokers, insurers and insureds. By integrating Indio’s solution with Applied Epic, the insurance software firm hopes to provide customers with a collaborative and automated data capture experience, while increasing the velocity of the insurance application and renewal lifecycle, lowering costs and reducing the risk of errors and omissions.
“We could not be more excited about this partnership. It’s all about strengthening the agency and brokerage channel,” said Taylor Rhodes (pictured), CEO at Applied Systems. “As a leading AMS provider, we’ve heard a lot of feedback from the market that the commercial lines segment is […] a very broken, manual, tedious and costly process. We hear that regularly, both from the carrier side as well as from the agency side.
“We also hear that as personal lines commoditizes further, the commercial lines segment is growing in importance, so this is where our customers are focused on being able to sell more intelligently, grow more profitably, and create better customer experiences through digital interactions with intuitive, simple-to-use tools.”