Applied Systems Acquires Insurecom
Frequently Asked Questions
1. What does today’s announcement of the acquisition of Insurecom by Applied Systems mean for the two companies?
The acquisition extends Applied Systems’ operations into the UK and enables Applied to advance broker software and insurer connectivity solutions in the UK insurance market. By acquiring Insurecom, Applied Systems will now directly service and support Applied TAM UK users and create greater value for this important customer base. With operations in Europe, Applied Systems can provide greater support and scalability to multinational insurance customers as the industry continues to globalize. Insurecom is joining a larger software company with an international footprint and will have greater resources and expertise to enhance customer service and technology offerings in the UK market.
2. Who is Insurecom? What is the nature of its business?
Insurecom is a leading provider of broker software and connectivity solutions to the insurance industry in the United Kingdom. Established in 1999, Insurecom software products connect general insurers to intermediaries, and intermediaries to consumers. Insurecom was an Applied Systems business partner for more than 10 years and is the exclusive distributor of Applied TAM in the UK market.
3. How will the two companies operate together?
Insurecom is now a regional subsidiary of Applied Systems (Applied Systems UK) and will continue to support all of its customers and partners. Applied Systems and Insurecom have a strong foundation in place to quickly integrate operations and begin delivering greater service to customers and product innovation to the UK marketplace. Applied Systems has appointed Jeff Purdy, senior vice president of international operations, to oversee Applied Systems UK, working directly with the Insurecom management team.
4. How will this benefit Insurecom and Applied Systems customers?
By acquiring Insurecom, Applied Systems can now directly service and support Applied TAM UK users and create greater value for this important customer base. While customer relationships with Insurecom will remain unchanged, customers will benefit from greater resources and additional technology and insurance expertise Applied Systems brings to the market. In addition, by extending Applied Systems’ operations into the UK, Applied can provide greater support and scalability to its current multinational insurance customers as brokerages and insurers continue to globalize.
5. How will this benefit the insurance industry?
Applied Systems is committed to making further investments in the UK market, with a primary focus on enhancing Applied TAM UK to drive greater value in the broker software experience. In addition, the company intends to continue Insurecom’s strategic investments in insurer connectivity solutions to increase the efficiency of information exchange between brokerages and insurers in the industry. Finally, Applied Systems also plans to introduce its broader Applied product portfolio currently used in the U.S. and Canada in the UK market to further automate the insurance lifecycle.