Acquisition Establishes Company as the Leading Software Provider for the Canadian Insurance Market
University Park, Ill. � June 05, 2012 � Applied Systems, Inc., a leading provider of software that powers the business of insurance, today announced that it has acquired Compu-Quote Inc., Canada’s leader in comparative insurance rating solutions.
The transaction combines one of the insurance industry’s leading broker management software providers with Canada’s leader in comparative rating services, business rules automation and analysis tools. The combination of Compu-Quote and Applied Systems establishes Canada’s leading insurance software provider.
“All of us at Compu-Quote are pleased to join Applied Systems. We believe the significant resources and technologies of Applied Systems will allow us to further invest in our customers, software solutions, people and future,” said James Nickelo, Senior Vice President, Compu-Quote.
“The acquisition of Compu-Quote establishes Applied Systems as the leading provider of software to the Canadian insurance market,” said Reid French, CEO, Applied Systems. “We believe the transaction provides excellent growth prospects and synergies for Applied Systems and our customers in the Canadian insurance market and is fundamental to our Company’s growth strategy.”
Compu-Quote will become part of Applied Systems Canada, increasing the Company’s ability to better serve and support the Company’s Canadian customer base, while also providing significant value to its customers through tighter integration between the Company’s software platforms.
About Applied Systems
Applied Systems is a leading provider of software that powers the business of insurance. The company is recognized as a pioneer in agency management systems and data exchange between agencies, brokers, carriers and their clients. By automating the insurance lifecycle, Applied Systems software enables millions of people around the world to safeguard and protect what matters most. To learn more, please visit www.AppliedSystems.com.
Compu-Quote Inc. is Canada’s leader in the development, delivery and maintenance of comparative rating services, business rules automation and analysis tools for the Canadian automobile and property insurance industry. For more information, visit www.compu-quote.com.