Applied Systems Inc., a provider of software for the insurance industry, has announced it has acquired NxTech Inc. to support Applied Systems’ continuing strategic investments in its IVANS Insurance Solutions business unit. IVANS is aimed at improving data exchange and carrier-agency connectivity for the benefit of the entire P&C industry, according to Applied Systems. NxTech is a provider of technology solutions that enable data exchange and integration between insurance carriers and the independent agency channel in the U.S. P&C insurance industry.
“The ability for insurance carriers to exchange information more efficiently with independent agencies and brokerages through advanced download and real-time technology is critical in today’s connected insurance marketplace,” said Applied Systems CEO Reid French. “The acquisition of NxTech is an important investment in the continuing growth of IVANS and furthers our commitment to increasing data connectivity and efficient data exchange for customers and other industry stakeholders.”
“Applied Systems, IVANS and NxTech share a common mission,” added NxTech CEO Bill Tedrick. “By joining IVANS, we gain momentum and are better positioned to achieve our mission with deeper and complementary technologies and expertise that will deliver greater value and service to our clients and organizations throughout the industry.”
Applied Systems’ acquired IVANS two years ago, and since then it has steadily grown across its lines of business and today serves more than 250 carriers and 25,000 agencies in personal and commercial lines, managing approximately 10 million transactions for the industry every month, the company said. NxTech will be integrated into IVANS to enhance data exchange technologies that connect P&C insurance carriers and independent agencies.
NxTech provides real-time and download interface technologies that are differentiated from IVANS and will support IVANS’ data exchange solutions. The company supports 450 installations for 70 clients ranging from large insurance carriers to specialty companies to managing general agents (MGAs) to industry organizations.
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