Q: What are the details of today’s announcement?
A: Applied Systems has entered into a definitive agreement to acquire Indio Technologies (“Indio”). This transaction brings together Applied Systems, the leading global provider of agency and broker management systems, with Indio, the leading solution for the insurance application and renewal process. This acquisition expands Applied’s commercial lines solutions and demonstrates the company’s commitment to advancing connectivity across agencies, brokers, insurers and insureds to create greater automation and value for all stakeholders of the insurance lifecycle.
Q: Who is Indio?
A: Indio simplifies the insurance application process to make it faster, more collaborative, easier, and minimize errors and omissions, saving agencies and their clients’ time and money. Indio enables agencies to streamline internal application and renewal processes, eliminating redundancies in data gathering while ensuring data accuracy, and providing their insureds a superior customer experience.
Q: Why did Applied acquire Indio? How will this benefit the insurance industry?
A: Applied’s acquisition of Indio will enable the company to provide customers a collaborative and automated data capture experience, increasing the velocity of the insurance application and renewal lifecycle while lowering costs and reducing the risk of errors and omissions. Additionally, the company will tightly integrate Indio with Applied’s digital agency and broker solutions, creating even more productivity for agents and brokers.
The collaborative data capture experience for new business and renewals will also accelerate insurer connectivity in commercial lines submission process. IVANS, a division of Applied, will leverage Indio to expand its leading data exchange capabilities to connect agencies, brokers, insurers and insureds, and to automate information exchange throughout the submission process, minimizing friction and creating greater value for each stakeholder.
Q: How will this benefit Indio and Applied Systems customers?
A: We believe the combination of Applied and Indio will provide meaningful benefits to both companies’ customers, partners and other stakeholders in the industry. Applied is committed to investing behind the combined management teams and employee bases to drive continued product innovation and deliver the highest level of impact to our customers and partners. Our customers will benefit from tighter integration of Indio and Applied’s digital agency and broker solution.
Indio’s customers and partners will experience no impact to their primary services, support and sales contacts. Over the longer term, customers and partners will benefit from the investment plans, greater support, technical services and financial resources of Applied.
Applied will continue to support Indio’s integration with non-Applied broker management solutions in the market.