Applied Systems Inc. said it has entered into a definitive agreement to acquire San Francisco-based Indio Technologies Inc.
The announcement did not disclose terms and conditions of the deal.
University Park, Illinois-based Applied Systems provides agency and broker management systems. Indio Technologies is an online platform that helps insurance agents streamline and modernize the insurance application process.
Applied Systems said the acquisition will enable the company to provide customers a “collaborative and automated data capture experience, increasing the velocity of the insurance application and renewal life cycle while lowering costs and reducing the risk of errors and omissions.”
Michael Furlong, Indio’s co-founder and CEO, was a winner of Business Insurance’s 2019 Break Out Awards.
The statement did not indicate whether Mr. Furlong would remain with the company. A spokesman could not immediately be reached for comment.