Illinois-based Applied Systems has completed purchase of property and casualty (P&C) business of IVANS, a provider of technology solutions for data exchange and integration between insurance carriers and agencies, for an undisclosed amount.
As part of the acquisition, the acquired business will operate as a separate business division of Applied Systems, under the name, IVANS Insurance Solutions.
Applied Systems CEO Reid French said the technology is currently redefining the insurance business, by offering greater value through more efficient information exchange between insurance carriers, agencies and their customers.
''Together, Applied Systems and IVANS will deliver more value to the insurance industry through innovation in carrier-agency data exchange and more efficient workflows,'' French added.
IVANS P&C president Jim Ochiltree said, ''This important milestone creates new opportunities to deliver enhanced technology and the highest level of service to our customers.''
Applied Systems will manufacture product enhancements and technical innovation to boost carrier-agency integration for the benefit of the entire P&C industry.
IVANS will continue providing its data communication solutions and support to all existing carriers and agency management systems in the marketplace, as an open solution.
Applied Systems was also the first technology provider to help in development of IVANS' open platform solutions used throughout the P&C insurance industry.
Meanwhile, IVANS' Healthcare and Retail businesses have also been acquired by ABILITY Network, a healthcare technology provider, in a simultaneous transaction.
