Applied Systems to Acquire IVANS' P&C Business
Deal is expected to be completed in the first half of this year.
Insurance Networking News, March 8, 2013
Applied Systems Inc, a provider of software for insurance companies, will acquire the P&C business of IVANS, a provider of technology solutions for insurance carriers and agencies.
According to Applied Systems, the IVANS P&C business will operate as a separate business division of Applied Systems, led by Jim Ochiltree, president of IVANS P&C, and the entire existing senior management team. IVANS will be focused solely on the technology needs of the P&C insurance industry. Applied Systems plans to maintain and invest in IVANS P&C’s open platform and integration with all carriers and agency management systems. The transaction is subject to customary conditions to closing and is expected to be completed in the first half of 2013.
Applied Systems says the combined company will be better positioned to deliver technical innovation, develop product enhancements and improve carrier-agency integration for the benefit of the P&C insurance industry.
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