(Image source: Ask Kodiak homepage.)
IVANS (Tampa), a division of Applied Systems (University Park, Ill.) that provides an exchange connecting insurers, MGAs, agencies, and policyholder, has announced that it has acquired Ask Kodiak, an InsurTech offering commercial lines market appetite and search capabilities for the independent agency channel. IVANS characterizes the acquisition as further enhancing its robust commercial lines connectivity solutions, specifically IVANS Distribution Platform, to create a more valuable and digital distribution experience at each stage of the insurance lifecycle for the benefit of all stakeholders.
“Our investment in Ask Kodiak furthers our mission to expand the IVANS data superhighway, creating a more connected and valuable digital ecosystem of insurance,” comments Reid Holzworth, CEO, IVANS. “Merging Ask Kodiak with the IVANS Distribution Platform will combine the industry’s most robust appetite management and communication tool and the industry’s broadest distribution platform to enable agents, MGAs, carriers and partners to digitize the end-to-end commercial lines policy lifecycle and provide additional opportunities to more broadly connect across more lines of business.”
IVANS reports that it will tightly integrate Ask Kodiak’s market search and appetite communication technology with IVANS Distribution Platform, its platform for commercial lines marketing and sales distribution. Leveraging Ask Kodiak’s modern interface, carriers can define and manage appetite in real-time, to support accurate appetite communications and digital submissions, reducing operational cycle time and declination rates, IVANS says. Agencies using commercial quoting solutions supported by IVANS Distribution Platform, will now have access to Ask Kodiak’s advanced appetite matching capabilities to place more of their commercial lines business.
Maintaining Ask Kodiak’s Integrations
Additionally, IVANS says it will maintain Ask Kodiak’s current integrations to expand the company’s ecosystem of InsurTech partners and deepen current integrations with existing partners, further building out IVANS’ network of agencies, MGAs, insurers, and technology providers.
“At Ask Kodiak, our mission has always been about helping carriers and agents write more of the risks they want to write, faster and easier,” comments Michael Albert, co-founder, Ask Kodiak. “Now with the resources of IVANS behind us, we’ll be able to scale our capabilities and provide our customers with access to the industry’s broadest distribution platform so they can write even more risks with speed and accuracy, further supporting our growth goals.”