IVANS acquires insurtech Ask Kodiak
IVANS, a division of Applied Systems, has announced that it has acquired Ask Kodiak, an insurtech offering commercial lines market appetite and search capabilities for the independent agency channel. The company claims that the acquisition will further enhance its robust commercial lines connectivity solutions and IVANS Distribution Platform.
The insurance solutions provider also says it will maintain Ask Kodiak’s current integrations to expand the company’s ecosystem of insurtech partners and deepen current integrations with existing partners.
Reid Holzworth, Chief Executive Officer of IVANS, said: “Merging Ask Kodiak with the IVANS Distribution Platform will combine the industry’s most robust appetite management and communication tool and the industry’s broadest distribution platform to enable agents, MGAs, carriers, and partners to digitise the end-to-end commercial lines policy lifecycle and provide additional opportunities to more broadly connect across more lines of business.
“Our investment in Ask Kodiak furthers our mission to expand the IVANS data superhighway, creating a more connected and valuable digital ecosystem of insurance,” he said.
Discussing the company’s objectives, Michael Albert, co-founder of Ask Kodiak, said: “At Ask Kodiak, our mission has always been about helping carriers and agents write more of the risks they want to write, faster and easier. Now with the resources of IVANS behind us, we’ll be able to scale our capabilities and provide our customers with access to the industry’s broadest distribution platform so they can write even more risks with speed and accuracy, further supporting our growth goals.”
What are Ask Kodiak and IVANS?
Ask Kodiak's is an insurtech with a cloud-based, software platform for property and casualty (P&C) insurers markets, commercial and specialty products, independent agents, and brokers. P&C insurers add or update product information and adjust appetite on-demand to optimise inbound application flow in real-time.
Extensive analytics help insurers measure product marketing efforts and better identify new, high-performing agency partners. By providing insight into independent agent coverage needs, Ask Kodiak informs proactive insurer decisions based on real-time visibility into search trends, product market opportunities, and product performance.
A division of Applied Systems, IVANS, 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 35 years, IVANS innovation and expertise has connected 33,000 independent insurance agencies and 430 MGA and insurer partners to enable millions of people to safeguard and protect what matters most in people’s lives.