IVANS acquires Ask Kodiak
Ivans announced that it has acquired Ask Kodiak , a Boston-based provider of commercial lines market appetite and search capabilities for some 20,000 agencies.
“Our investment in Ask Kodiak furthers our mission to expand the IVANS data superhighway, creating a more connected and valuable digital ecosystem of insurance . Merging Ask Kodiak with the IVANS Distribution Platform will combine the industry’s most robust appetite management and communication tool and the industry’s broadest distribution platform to enable agents, MGAs, carriers and partners to digitize the end-to-end commercial lines policy lifecycle and provide additional opportunities to more broadly connect across more lines of business.” – Reid Holzworth, chief executive officer, IVANS.
IVANS will integrate Ask Kodiak’s market search and appetite communication technology with IVANS Distribution Platform and agencies using commercial quoting solutions supported by IVANS Distribution Platform will now have access to Ask Kodiak’s appetite matching capabilities to place more of their commercial lines business.
Additionally, IVANS will maintain Ask Kodiak’s current integrations to expand the company’s ecosystem of Insurtech partners and deepen current integrations with existing partners, further building out IVANS’ network of agencies, MGAs, insurers, and technology providers.
“At Ask Kodiak, our mission has always been about helping carriers and agents write more of the risks they want to write, faster and easier. Now with the resources of IVANS behind us, we’ll be able to scale our capabilities and provide our customers with access to the industry’s broadest distribution platform so they can write even more risks with speed and accuracy, further supporting our growth goals.” – Michael Albert, co-founder, Ask Kodiak.
Bottom Line: The acquisition of EvoSure by Applied in 2016 comes to mind.