Private Equity Portfolio
Automation solutions for the property and casualty insurance industry.
Applied Systems, Inc. was the leading provider of automation solutions for the property and casualty insurance industry. Since 1983, the Company had developed software for independent insurance agents, brokers, managing general agents, and insurance companies, as well as banks and other financial institutions with insurance operations. Nearly 120,000 users comprising 10,000 agencies conducted business using Applied Systems’ agency management systems, and related products and services. Nearly 300 of the largest brokers and other financial institutions with insurance operations used Applied Systems products to automate their affiliated insurance agencies.
Applied Systems led the industry in agency/carrier real-time and batch communication solutions. The Company’s software products were used in approximately 50 percent of interface transactions based upon ACORD standards. Applied Systems automated insurance transactions at every distribution level from consumer through carrier, also providing technical support, and professional services to maximize customers’ return on investment.
The Company was headquartered in University Park, IL, with operations in Canada.
Vista Equity Fund II completed a management buyout of Applied Systems in September of 2004.