Applied Systems, a provider of cloud-based agency and brokerage management systems for the insurance industry, has acquired Planck, a company offering an AI-based data platform for commercial insurance businesses. This acquisition aims to enhance Applied Systems’ AI capabilities.
In recent months, Applied Systems released the initial versions of its AI-powered features in select products. It has also collaborated with agents and carriers to experiment with AI capabilities through its Applied AI Lab. The goal of this acquisition is to foster growth and add value throughout the insurance lifecycle by reducing redundant tasks and leveraging data more effectively.
Planck’s AI technology will be incorporated into Applied Systems’ offerings. The combination is expected to streamline critical business processes for agencies, carriers and their clients by optimizing marketing, sales, underwriting, renewals, servicing and advisory services.
