Yesterday was a BIG day in InsureTech. You may have seen the news that Applied Systems acquired Indio technologies, making a huge investment in the evolution of the broker-client relationship.
First of all, I want to congratulate Mike Furlong and the Indio team for a successful exit, something few startups can claim. And also congratulate Taylor Rhodes and Applied Systems for making a bold move in the industry.
People asked me all day yesterday, "What does this mean?" I spent most of the day talking to customers, investors, and my contacts at both Vertafore and Applied Systems. Here's what I can tell you:
- This is good for the industry - What Broker Buddha and Indio offer is something that can and should become ingrained in agency operations.
- This is good for Broker Buddha - Many agencies are already using or evaluating Broker Buddha and this only highlights the significance of what we're doing
- Broker Buddha is (still) a great solution for EPIC clients - The team at Applied is committed to supporting their clients with custom integrations through the SDK & BDE and will not block them from integrating with us. They've already confirmed this.
- Broker Buddha is a great solution for Vertafore clients - I can't say for certain, but I think it's unlikely that an Indio / Vertafore integration is coming soon. If you use Vertafore products and you want a customer engagement solution that will integrate with your management system, Broker Buddha is your best option.
If you have questions, concerns or want to talk, let me know. I'm here.
Keep it simple,
Thursday, December 5, 2019