Insurance technology company Applied Systems has agreed to acquire EZLynx, a provider of agency management systems and a pioneer in real-time comparative assessments.
Applied said the acquisition is complementary and will expand the portfolio of agency management and rating technologies for agencies of all sizes.
Terms were not disclosed.
"Start-up and fast-growing independent insurance agencies are emerging, creating a growing segment of the market looking for automation and technology choice," said Taylor Rhodes, CEO of Applied Systems.
In addition to offering and supporting EZLynx products, Applied said it will integrate EZLynx's real-time comparative personal line assessment technology with Applied & # 39; s product portfolio, including Applied Epic. This integration allows agencies to maintain a single view of customers and prospects, while eliminating the time spent managing multiple data points on different systems, the announcement said.
Nag Rao, CEO and co-founder of EZLynx, said the deal will give its customers and employees "access to new innovation and resources, allowing us to grow the capabilities of EZLynx more effectively."
Texas-based EZLynx was founded in 2003 and released its first real-time rating system the following year and added EZLynx Connect vendor integration capabilities in 2019. In 2011, it began offering additional agency management products.
EZLynx is listed as the most widely used comparative personal line assessor in the Future One Agency Universe Study by Independent Insurance Agents and Brokers of America. According to the website, more than 20,000 agents use it.
This acquisition comes just over a year after Applied Systems acquired Indio Technologies startup, a digital insurance technology startup. That move enabled Applied Systems to offer Indio & # 39; s digitized commercial insurance application and integrate the renewal process Indio into its popular agency management system Epic.
Private equity firm Hellman & Friedman has been the majority shareholder of Applied since 2014, alongside minority shareholders Stone Point Capital, JMI Equity and CapitalG. Nomura Securities has provided financing to support the acquisition.
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