On July 23, 2024, Applied Systems disclosed the acquisition of Planck, a prominent AI company that serves the insurance sector. In addition to advancing its vision for the digital transformation of insurance processes, this acquisition is anticipated to substantially improve Applied's AI capabilities. Applied's CEO, Taylor Rhodes, highlighted the strategic move as a step towards integrating advanced AI capabilities into insurance workflows, benefiting agencies, carriers, and their clients by creating more value at every stage of the insurance lifecycle. Over the past 18 months, Applied has introduced AI-powered features in its products and collaborated with industry giants through the Applied AI Lab, identifying opportunities to reduce inefficiencies and unlock data value.
Applied Systems, a global provider of cloud-based insurance software, is recognized for its pioneering role in insurance automation. Serving customers across the US, Canada, Ireland, and the UK, Applied’s products enable the automation of critical insurance processes. Planck, an AI-based data platform for commercial insurance, equips insurers with real-time data insights to streamline underwriting processes. The acquisition is poised to leverage Planck's expertise to further Applied’s goal of delivering intelligent automation throughout the insurance lifecycle.
