Hiscox is set to exit digital insurance processing platform Indio Technologies in an acquisition by Applied Systems that follows $28m in venture funding.
Insurance software supplier Applied Systems has agreed to acquire US-based insurance processing platform developer Indio Technologies for an undisclosed amount, enabling insurer Hiscox to exit.
Founded in 2016, Indio has built a software platform that helps insurance agencies streamline and evaluate digital applications from customers taking out or renewing insurance policies.
The software compiles data from disparate sources to reduce the scope for error and incorporates tools for building web forms and collaborative workflows.
Applied Systems will add Indio’s functionality…
