“Certainly, as owners, they participated in the diligence conversation and were excited about it. Rhodes background is in cloud software having served as CEO of both Rackspace and SMS Assist.Rhodes said he believes the Indio deal is a “differentiating move” for Applied Systems. However, as agents and brokers know, the current submission process is extremely manual and disparate, creating friction, cost and lost sales opportunities. In 2018,The Hartford purchased Y-Risk, which has an online hub, gig.protect.com, that lets independent contractors purchase insurance and insurance agency Seeman Holtz Property & Casualty acquired online personal lines insurance agency Goji and its technology platform.Thank you! Indio promises not only a better experience for customers but also lower costs and reduced risk of errors and omissions for agencies.The software automatically digitizes all of the applications, maps the common data points between all of the forms and year over year, and reduces data redundancy.

By listening to this episode, you will learn: What the deal represents, not only for Applied but for the insurance industry as a whole. I think it’s a big statement to our agency and broker customers on the one hand and carriers on the other that we want to continue to push forward and create value for them and to strengthen the relationship between carriers and the channel.”Rhodes thinks additional acquisitions in the insurtech space are likely.“I think what you’re seeing is a normal evolution in an industry that is just starting to wake up to the technology value as opportunity,” he said.“We want to be the place where insurtech creates value for our customers. However, I think that there’s a tremendous opportunity to empower them with technology.” That’s the direction we originally chose, which at the time was quite contrarian to build software for the traditional insurance agents.By joining Applied Systems, Indio will have the ability to accelerate its vision of changing the insurance application experience for the entire insurance value chain.
By continuing to use our site, you accept our That eliminates double entry for customers, creating productivity for them,” said Applied Systems CEO Taylor Rhodes in an interview with Insurance Journal.“It’s a better customer experience because it takes steps out of what the customers need to do to get an application renewed or granted for the first time. Additionally, the team will tightly integrate Indio with Applied’s digital agency and broker solutions, creating even more productivity for you. Applied Systems to Acquire Indio Technologies to Accelerate Digitization of Commercial Lines Submissions. Our team will focus on improving our existing data capture product by building an even stronger integration with Applied’s product suite. Applied Systems has over 13,000 customers and is owned by some of the world’s leading investors, including Hellman and Friedman, Google, JMI Equity, and StonePoint Capital. When I looked at the state of it I said, “You know what? Applied Systems plans to integrate Indio into its popular agency management system Epic. It provides Aon with the opportunity to leverage CoverWallet’s platform to develop other digital client experiences.In August 2019, Insurance Technologies Corp. (ITC) acquired Ohio-based Smart Harbor, which provides smart forms, websites and data analytics to insurance agents.

Please tell us what we can do to improve this article.Your email address will not be published. They hope to close the deal within a month.“What Indio allows us to do is to have a very, very seamless capture of customer risk data at time of renewal or application and seamlessly populate that data into the Epic agency management system. It then creates a link to a web page with instructions that help customers complete the documents online, asking only for information that is new or needs to be changed.“So instead of sending an email with 10 attachments, long explanations how to go through the documents, and what have you, the agent just generates a link from our system and sends it in an email to the customer.
It is based in San Francisco with an office in Austin, Texas, and has about 80 employees. The acquisition of Indio will enable Applied Systems to provide customers a collaborative and automated data capture experience, making the application and renewal process faster and simpler. This is an exciting announcement, not only for Applied Systems but for the entire industry.Commercial lines represents a growing insurance segment where the agent’s trusted advice is increasingly important. We started Indio in July of 2016 with the vision of modernizing and digitizing the insurance application process for insurance brokers and their customers. We have many mutual users with Applied and they love Applied,” Furlong told Insurance Journal.“When I met Taylor and looked at Applied as the market leader in the agency management systems space, it was clear to me that we could gain much faster and wider market share and adoption on our product…and Applied could help us realize our vision in a faster and more efficient manner,” the insurtech executive said.Rhodes said Applied is in a position to extend the digitization of the submission process beyond agencies and customers to carriers as well.