Insurance technology provider Applied Systems has purchased UK-based Insurecom, for an undisclosed sum, with a strategy to boost its UK footprint.
The acquired, which will operate as Applied Systems UK, had been serving as a business partner of Applied Systems for over 10 years. Additionally, it has been working as the exclusive distributor of Applied TAM to insurance brokerages in the UK.
Applied Systems was quoted by Postonline.co.uk as saying, it would "leverage its technology development resources and expertise to enhance broker management software and insurer connectivity solutions offered in the UK insurance market."
Under the terms of the deal, current senior vice president of international operations, Applied Systems, Jeff Purdy will spearhead the acquired business.
In a bid to reinforce its operation in the UK, the acquirer is mulling to introduce an array of additional insurance technologies, which is currently available in the US and Canada.
Applied Systems CEO Reid French told the news portal, "Expanding our international operations enables Applied Systems to deliver enhanced support to our growing list of multinational customers as the insurance industry continues to globalize."
In May, the company acquired property and casualty (P&C) business of IVANS, a provider of technology solutions for data exchange and integration between insurance carriers and agencies.