Applied Systems buys commercial lines rating platform

Applied Systems Inc. said Tuesday it has acquired Boston-based Tarmika, a small-business-focused commercial lines rating platform for insurance agencies.  

Terms of the transaction were not disclosed.

Tarmika was founded in 2018 and has about 30 employees, all of whom have joined Applied, a spokeswoman said.

University Park, Illinois-based Applied said the deal will expand its portfolio of commercial lines quoting and distribution technologies to enhance connectivity among independent agencies, insurers and policyholders.

Tarmika’s commercial lines products will be integrated into Ivans Insurance Services’ distribution platform to streamline the commercial quote and bind process, Applied said. Tampa, Florida-based Ivans is a division of Applied.