IVANS Markets Policy Searches Surpasses 66 Million
December 16, 2020
Rapid growth driven by automating agent access to more markets
TAMPA, Fla. – December 16, 2020 – IVANS, a division of Applied Systems, today announced IVANS Markets policy searches have surpassed 66 million year to date, driven by a year-over-year increase in agency adoption of 21 percent year to date from 2019. Growth in agency adoption can be attributed to a 36 percent increase insurer participation.
Notable insurers leveraging IVANS Markets to automate their distribution of market appetite include Liberty Mutual, Acuity and The Hartford. A new partnership with ISU Insurance Agency Network Group Companies was also created to support the network’s proprietary technology platform, delivering automated appetite communications to the more than 300 insurance companies in its network.
IVANS Markets provides insurers and MGAs an industry-first application to instantly communicate appetite and identify new business opportunities with current and prospective agencies. Leveraging this digital channel, built within nine agency management systems, also reduces dependency on time-consuming, manual steps traditionally used to communicate appetite. IVANS Markets directs more in-appetite submissions into insurers’ pipelines to drive growth and profitability.
“The insurance industry has been hampered with inefficient processes and a lack of connectivity, which create challenges for both agencies and insurers,” said Reid Holzworth, chief executive officer, IVANS Insurance Solutions. “IVANS Markets digitizes the appetite communications process, enabling insurers and agencies to collaborate more closely on new business opportunities.”
# # #
IVANS, a division of Applied Systems, 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. IVANS innovation and expertise connects 32,000 independent insurance agencies and 400 MGA and insurer partners to enable millions of people to safeguard and protect what matters most in people’s lives.