Applied Systems announced today it has completed its acquisition of the Property & Casualty (P&C) business of IVANS, a leading provider of technology solutions for data exchange and integration between insurance carriers and agencies. IVANS P&C will operate under the name IVANS Insurance Solutions as a separate business division of Applied Systems.
Applied Systems will develop product enhancements and technical innovation to improve carrier-agency integration for the benefit of the entire P&C industry. As an open solution, IVANS will continue to provide its data communication solutions and support to all existing carriers and agency management systems in the marketplace.
"Technology is redefining the insurance business, delivering greater value through more efficient information exchange between insurance carriers and agencies and their customers," said Reid French, CEO, Applied Systems. "Together, Applied Systems and IVANS will deliver more value to the insurance industry through innovation in carrier-agency data exchange and more efficient workflows."
The acquisition combines two complementary technology providers with a history of innovation and leadership. Applied Systems has had a longstanding partnership with IVANS and was the first technology provider to assist in the development of IVANS' open platform solutions utilized throughout the P&C insurance industry.
"IVANS has a history of innovation and partnership with Applied Systems. This important milestone creates new opportunities to deliver enhanced technology and the highest level of service to our customers," said Jim Ochiltree, president, IVANS P&C.
In a simultaneous transaction announced today, ABILITY Network, a leading healthcare technology company, completed its acquisition of the IVANS Healthcare and Retail businesses.