Tarmika Acquisition to Make Ivans Distribution Platform the Most Robust Commercial Lines Distribution Network
August 16, 2022
Strategic acquisition to increase commercial lines quoting products three-fold, expanding digital distribution between independent agencies, carriers, and insureds
UNIVERSITY PARK, Ill. – Aug. 16, 2022 – Ivans today announced that its parent company, Applied Systems, has acquired Tarmika, a leading commercial lines rating solution that streamlines small business insurance. This complementary acquisition will add Tarmika’s product panel to Ivans Distribution Platform (IDP), making the platform the industry’s largest commercial lines distribution network – from market search to quote and bind – creating more value by expanding opportunities for digital distribution for carriers, agencies and Ivans’ growing list of technology partners.
“A big problem in our industry has been the lack of connectivity between agents and carriers, costing carriers time and expense to connect to multiple distribution channels and limiting new business opportunities,” said Reid Holzworth, chief executive officer, Ivans. “This acquisition will bring together Tarmika’s robust panel of commercial lines products with Ivans’ innovative distribution technology, building the industry’s largest commercial lines distribution platform for the benefit of agencies, carriers, and technology partners alike.
Tarmika’s panel of commercial lines products will be integrated into IDP, minimizing friction and expanding connections between agencies and carriers to streamline the commercial lines quote and bind process. Additionally, Tarmika’s standalone rating application and embedded commercial quoting bridge will both be enhanced by connecting into IDP, allowing customers to start the quoting process with the most advanced market search solution and then have greater choice from an expanded panel of combined products/markets.
“Tarmika has always been focused on bringing agents and carriers closer, delivering access to more products so agents can keep both their productivity and profitability high,” said Raghav Tanna, Co-founder, Tarmika. “We are excited to add the Ivans network and breadth of connectivity as it will bolster our speed to market with new product offerings for our agents and extend even greater distribution access for our carrier partners.”
For more information on this acquisition, please click here.
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Ivans is where insurance carriers, agents, and MGAs come together to grow their businesses. Every day, our 34,000 agents and 450 carrier partners plug into technology that empowers them to better determine appetite and eligibility, swiftly produce quotes, get accurate claims and commission updates, automatically communicate policy data, and connect to one another to drive new business. With easier ways to get the day’s work done, insurance professionals can open the door to more revenue without letting complexity in behind it.
Tarmika is a single-entry efficiency solution designed to streamline the commercial lines quoting process for independent agents. Founded in 2018, Tarmika was created by former insurance agents and carrier representatives to build technology, including agency-based commercial lines comparative rater ‘Bridge’ and embedded insurance solution ‘Tunnel,’ that enable carriers and agents to expand distribution channels, gain new business, and provide an enhanced customer experience.