The amount of the deal was not disclosed.
The acquisition aims to enable Applied to drive broker growth through expanded online distribution channels.
IS2’s Personal Lines provides a cloud-based platform for customers to quote, buy, and manage policies through online channels, as well as brokers to implement dynamic, rule-based pricing for real-time price optimization. The solution can integrate with broker management systems, external websites, and all UK-based price comparison sites.
Previously, IS2 has had a partnership with Applied to integrate its Personal Lines online platform with latter’s broker management systems. Through this acquisition, Applied will offer deeper integration between its management systems and the Personal Lines online platform, and extend this product more broadly in the U.K. market.
Led by Reid French, chief executive officer, Applied Systems is a global provider of cloud-based insurance brokerage management systems, serving customers throughout the United States, Canada, Ireland and the United Kingdom.