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Q: What are the details of today’s announcement?

A: Our parent company, Applied Systems has acquired Tarmika. This acquisition expands Applied’s commercial quoting and Ivans’ distribution connectivity solutions to create a more valuable and digital distribution experience at each stage of the insurance lifecycle, benefitting our technology partners, carriers, agencies, and the insured. 

Q: How will this benefit the insurance industry?

A:  The commercial lines lifecycle is fraught with inefficient processes that create redundant work and slow down new and renewal business workflows. Both agencies and carriers are increasingly pressing to decrease cycle times and reduce costs of their SMB books of business, indicating that now is the time to lean into investments that create a more connected, collaborative, and efficient commercial lines distribution process for all stakeholders. 

In 2021, Ivans launched Ivans Distribution Platform, the industry’s platform to streamline the commercial submission process through standardized digital connections to agency-facing systems, and acquired Ask Kodiak to integrate the industry’s leading market search capabilities and market appetite management into the platform. This latest acquisition is the next step in the company’s mission to solving the commercial lines challenges that have hampered our industry’s progress.

Tarmika’s panel of commercial lines products will be integrated into Ivans Distribution Platform. The combination will make Ivans Distribution Platform the most robust commercial distribution platform available, creating more value by expanding opportunities for digital distribution for carriers, agencies and Ivans’ growing list of technology partners.

Additionally, Tarmika’s people have the proven ability to quickly bring product value to market, successfully connect agencies and carriers, and drive adoption of critical capabilities, all of which will support Ivans innovation mission.

Q: How will this benefit Tarmika and Ivans customers and partners?

A:  We believe the combination of Applied, Ivans and Tarmika will provide significant benefits and greater choice to the companies’ customers, partners, and other stakeholders in the industry. By integrating Tarmika’s commercial lines panel into Ivans Distribution Platform, Tarmika’s carrier customers will have access to agency management systems and quoting solutions via Ivans Distribution Platform. Similarly, Ivans Distribution Platform carrier customers will have access to agency systems quoting via Tarmika, better connecting agencies, carriers, and insureds to streamline the commercial lines quote and bind process.

Applied and Ivans are committed to investing behind the combined teams to drive continued product innovation and deliver the highest level of value to our customers and partners. Our customers will greatly benefit from tighter integration of Tarmika’s commercial lines quoting technology and the scale that Ivans can bring to significantly expand its distribution channels.