Applied Systems has acquired Planck, an AI company specializing in insurance, to expand its AI capabilities. This acquisition aims to improve digital insurance processes for agencies, carriers, and clients, leveraging Planck’s expertise in algorithmic underwriting and data analytics.
Enhancing Insurance Processes
Over the past 18 months, Applied Systems has integrated AI-powered features into its products, collaborating with major agents and carriers. The acquisition of Planck will further enhance critical business processes such as marketing, sales, underwriting, renewals, and servicing by introducing intelligent automation.
Leadership and Vision
Taylor Rhodes, CEO of Applied Systems, emphasizes that the acquisition will enable the company to deliver AI-driven value across the insurance lifecycle. By integrating Planck’s advanced AI capabilities, Applied Systems aims to create a seamless, data-driven insurance experience that benefits both agencies and carriers.
Industry Impact
Elad Tsur, CEO and co-founder of Planck, expressed excitement about the partnership. This collaboration is expected to extend AI’s benefits to the agency and broker distribution side of the market, ultimately helping clients achieve greater efficiency and competitiveness in the evolving digital insurance landscape.