Applied Systems to acquire EZLynx
Applied Systems announced that it has entered into a definitive agreement to acquire EZLynx, “a pioneer in real-time comparative rating and one of the fastest growing” agency management systems in the US. This complementary acquisition will expand Applied’s portfolio of agency management and rating technologies to drive automation for agencies large to small while also increasing connectivity across the distribution channel to create greater value for all stakeholders.
“Start-up and fast-growing independent insurance agencies are on the rise, creating a growing segment of the marketplace looking for automation and technology choice. Applied’s investment in EZLynx further demonstrates our commitment to providing technology choice for agencies of all sizes and increasing automation and connectivity between agencies and insurers to create a more valuable digital distribution channel.” – Taylor Rhodes, CEO at Applied Systems.
Applied’s acquisition of EZLynx will expand agency choice of management systems that support their unique business model needs and deliver new innovation to enhance EZLynx’s notable portfolio of products. Additionally, Applied will integrate EZLynx’s industry-leading real-time comparative personal lines rating technology with Applied’s portfolio of products, including Applied Epic, creating a “better together” user experience between the applications while giving agencies even greater access to personal lines products. This tight integration will allow agencies to maintain a single view of customers and prospects while eliminating time spent managing multiple data points across disparate systems, creating greater productivity, simpler workflows, and added value.
“EZLynx has always been devoted to solving the insurance agent’s most pressing problems and providing user-friendly software that can be used by anyone, anywhere, anytime. This acquisition will provide our customers and employees access to new innovation and resources, allowing us to grow EZLynx’s capabilities more effectively for the benefit of all stakeholders of the insurance lifecycle.” – Nag Rao, CEO and co-founder of EZLynx.
Nomura Securities has provided committed financing to support the acquisition.