"Indio was founded on thebelief that technology can make insurance processes faster andsimpler," says Michael Furlong, the company's chief executiveofficer and co-founder. (Photo: Shutterstock)

AppliedSystems announced today that it will buy Indio Technologies,Inc.

The insurance technology and softwarefirm said the acquisition is a key component of its investment indigitizing end-to-end commercial lines services for agencies,brokers, insurers and insureds.

"In commercial lines today, the processfor agencies and insurers to collect and receive data throughoutthe submission process is often very manual and disparate, creatingfriction, cost and lost sales opportunities," Applied Systems CEOTaylor Rhodes said in a press release. "Applied's investment inIndio is a major statement of our commitment to automating the commercial lines submissionprocess and enabling agencies, brokers, insurers and insuredsto engage with each other and exchange data needed in the salesprocess more efficiently."

Indio makes an insurance applicationand renewal process solution that enables agencies and brokers toautomate client risk data collection as well as the applicationexperience. Merging the two companies' technology will "providecustomers (with) a collaborative and automated data captureexperience, increasing the velocity of the insurance applicationand renewal lifecycle while lowering costs and reducing the risk oferrors and omissions," according to the statement from Applied.

"Indio was founded on thebelief that technology can make insurance processes faster andsimpler while keeping customer experience as the number onepriority for an agency," Michael Furlong, chief executive officerand co-founder of Indio, said in a press release. "This acquisitionwill provide our customers and employees with access to newinnovation, resources and scale to further transform agencies' and brokers' dailyworkflows and accelerate business growth."

See also:

• Technology's impact on the customerexperience
• Keeping the human touch in the digital insuranceage
• 5 ways cloud adoption will make your insurance SMEmore competitive