Applied Systems Acquires Tarmika
You can now listen to Insurance Journal articles! Applied Systems said it has acquired Tarmika, a le…
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You can now listen to Insurance Journal articles! Applied Systems said it has acquired Tarmika, which facilitates small business insurance, and is a top commercial lines rating solution. This supportive accession will help to expand Applied’s commercial quoting and Ivans’ distribution connectivity solutions. This will result in creating a more valuable and digital distribution experience at each phase of the insurance lifecycle. The terms of the deal were not revealed. Chief executive officer of Applied Systems, Taylor Rhodes declared: “Applied has been on a journey to solve the commercial lines distribution challenge with a mission to create a fully-digital roundtrip of insurance for agents and carriers – from search and classification to carrier appetite, and then on to quote to bind.” “Our investment in Tarmika is the next step in creating a more connected, collaborative, and efficient distribution channel that brings agencies, carriers, and partners closer together to create mutual value and move our industry forward.” Applied will invest behind Tarmika’s enterprise-level, real-time commercial lines mentioning technology to enhance the significance of its simple, modern customization and vital product panel as a stand-alone application. Tarmika will be incorporated with Applied Epic and EZLynx. Over time, users can expect embedded commercial lines citing abilities powered by Tarmika natively in the management systems. Further, Tarmika’s panel of commercial lines products will be merged into Ivans Distribution Platform (IDP) to facilitate the submission procedure through standardized digital connections to agency-facing methods. Raghav Tanna; CEO and founder of Tarmika stated, “Tarmika was created to solve the major inefficiencies agencies experienced in their daily lives trying to grow their commercial book of business.” “This acquisition will help us further our innovative mission to bring the same efficiencies of personal lines quoting to commercial lines operations.” Lately, Pie Insurance announced a strategic partnership with Tarmika, an insurtech company specializing in workers’ comp insurance for small-scale businesses.
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