IVANS Markets Adoption Increases by 108 Percent Year Over Year
April 11, 2018
Rapid growth driven by ability for agents to access more markets
Tampa, FL – April 11, 2018 – IVANS, a division of Applied Systems, today announced that agency adoption of IVANS Markets has increased by 108 percent, with the number of policy searches more than doubling from 2016 with 24,000 to 2017 with 50,000. Since 2016, available lines of business have doubled, including D&O, E&O, EPLI, Cyber, Builders Risk, Environmental, Garage & Dealers, and Equipment Breakdown, providing more than 36,000 agencies with unprecedented access to markets.
Additionally, insurer participation has grown by 1400 percent. Notable insurers leveraging IVANS Markets include Central Insurance Companies, Motorists, State Auto, RLI, All Risks and Pekin Insurance. Insurers stating appetite have shown 10 percent more activity by agents than insurers who only show historical data.
IVANS is the insurance industry’s exchange connecting insurers, MGAs, and agencies. IVANS Markets provides insurers and MGAs an industry-first application to instantly communicate appetite and identify new business opportunities with agencies. Leveraging this digital channel also reduces dependency on time-consuming, manual steps traditionally used to communicate appetite. IVANS Markets directs more in-appetite submissions into your pipeline to drive growth and profitability.
“As the insurance industry continues to become more digital, it is crucial that agents and insurers take advantage of technology to more easily and quickly connect for new business opportunities,” said Brian Wood, vice president of IVANS Markets. “The rise in agency adoption of IVANS Markets demonstrates a need for more access to markets, and the participating insurers are already experiencing the benefits of providing the information agents need to more easily identify the best coverage for their customers’ risks.”
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IVANS, a division of Applied Systems, is the insurance industry’s exchange connecting insurers, MGAs, agencies, and the insured. IVANS cloud-based software automates the distribution and servicing of insurance products. For more than 30 years, IVANS innovation and expertise has connected 30,000 independent insurance agencies and 380 MGA and insurer partners to enable millions of people to safeguard and protect what matters most in people’s lives.