Applied Systems Acquires NxTech
Staff Writer | January 18, 2015
Applied Systems has acquired NxTech Incorporated to support Applied’s continuing strategic investments in its IVANS Insurance Solutions business unit to improve data exchange and carrier-agency connectivity for the benefit of the entire property and casualty industry. NxTech is a provider of technology solutions that enable data exchange and integration between insurance carriers and the independent agency channel in the U.S. P&C market.
“The ability for insurance carriers to exchange information more efficiently with independent agencies and brokerages through advanced download and real-time technology is critical in today’s connected insurance marketplace,” says Reid French, CEO of Applied Systems. “In the last two years, IVANS has increased technical innovation and improved carrier-agency integration for carriers and agencies across the industry. The acquisition of NxTech is an important investment in the continuing growth of IVANS and furthers our commitment to increasing data connectivity and efficient data exchange for customers and other industry stakeholders.”
Since Applied Systems’ acquisition of IVANS two years ago, IVANS has steadily grown across its lines of business and today serves more than 250 carriers and 25,000 agencies in personal and commercial lines, managing approximately 10 million transactions for the industry every month. NxTech will be integrated into IVANS to enhance data exchange technologies that connect P&C insurance carriers and independent agencies. NxTech provides real-time and download interface technologies that are differentiated from IVANS and will support IVANS’ data exchange solutions.
NxTech has significant expertise in carrier interface solutions, and its executive management team has a 25-year track record of delivering innovative interface solutions to insurance carriers. The company supports 450 installations for 70 clients ranging from large insurance carriers to specialty companies to managing general agents (MGAs) to industry organizations.
“Applied Systems, IVANS, and NxTech share a common mission of improving data exchange for all stakeholders across the insurance industry with innovation that drives growth, efficiency and better service to policyholders,” says Bill Tedrick, CEO of NxTech. “By joining IVANS, we gain momentum and are better positioned to achieve our mission with deeper and complementary technologies and expertise that will deliver greater value and service to our clients and organizations throughout the industry.”
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