Applied Systems Acquires SEMCAT
Acquisition to extend integrated product vision for U.S. comparative rating and further deliver a connected experience across the insurance life cycle
University Park, Ill. – June 16, 2015 – Applied Systems, Inc., a leading provider of software that powers the business of insurance, today announced it has acquired SEMCAT, a leading provider of comparative rating technology in the U.S., to support Applied Systems’ integrated product strategy by expanding integrated rating solutions to the U.S. market.
"As the insurance industry becomes a more connected marketplace where consumers expect instant access to information, today’s leading agencies require advanced software that provides real-time connectivity and streamlines workflows to ensure timely and comprehensive client service," said Reid French, chief executive officer, Applied Systems. "Through this acquisition, Applied will further our vision of a connected insurance experience by marrying our leading agency management systems and carrier-agency connectivity technologies with SEMCAT’s complementary rating solutions, enabling agencies to more quickly and seamlessly receive accurate rating quotes."
Applied Systems is the leading provider of agency management systems and data exchange between agents, carriers and their clients in the U.S. and globally. SEMCAT’s comparative rating solution provides 100 percent accurate rates with more than 500 carriers, which is the broadest coverage of any comparative rating provider in the U.S. today. Applied Systems plans to integrate SEMCAT’s rating technology seamlessly into Applied’s agency management systems to enhance real-time exchange of policy rating and improve operational workflows. In addition, independent agencies will benefit from the expanding number of real-time XML integrations with insurance carriers that will be supported by the advanced capabilities of Applied IVANS.
SEMCAT is a leading provider of comparative rating technology in the U.S. SEMCAT provides accurate rates to more than 2,400 agency customers across 44 states. Applied will focus investment in the combined teams and product portfolio to drive continued technical innovation and product integration, driving connectivity and data exchange across the entire insurance life cycle.
"Applied Systems and SEMCAT are positioned at the intersection of consumers, agents, and carriers, focused on connecting these key industry stakeholders with innovation that ensures accurate and comprehensive client service to drive agency growth," said Jeff Runyan, chief executive officer, SEMCAT. “In joining Applied, we gain momentum to further our mission with more advanced technologies, resources and expertise to deliver greater value to our clients and the greater insurance distribution channel."
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About Applied Systems
Applied Systems is a leading provider of software that powers the business of insurance. Recognized as a pioneer in insurance automation and data exchange between brokerages, insurers and their clients, Applied is the world’s largest provider of agency and brokerage management systems. Automating the insurance lifecycle for more than 12,000 agencies and brokerages and 450 insurers worldwide, Applied enables millions of people around the world to safeguard and protect what matters most.
SEMCAT is a quoting solution company based in Lincoln, Nebraska, that is focused on bringing efficiencies to the insurance marketplace. Since 2007, SEMCAT’s primary goal is to assist the independent agency channel. SEMCAT helps independent agents quote with accuracy and serve with speed, because SEMCAT’s technology is unique, flexible, and easily maintained. These facts are proven by an industry-leading support of more than 500 insurance carriers. SEMCAT provides the only 100% accurate quoting engine and insurance agents may experience SEMCAT first-hand through a free, no-obligation trial by visiting www.semcat.net.