IVANS Acquires Ask Kodiak: What It Means for You
| Christen Kelley, IVANS | Sep 21 2021
Image via AskKodiak.com.
Innovation is at the heart of IVANS and we’re excited to add two new innovators to the team – Ask Kodiak co-founders Allan Egbert and Mike Albert. IVANS recently acquired Ask Kodiak, a pioneering insurtech that offers commercial lines market appetite and search capabilities across the industry. Allan and Mike are bringing their passion for the industry and their team to build on the solid foundation of both companies.
Bringing best-in-class appetite solutions
The Ask Kodiak platform will be integrated with IVANS Distribution Platform, the industry’s solution for end-to-end commercial lines distribution. This means that insurers will be able to define, manage, and communicate appetite in real time in one central location. Having the Ask Kodiak search capabilities built into the IVANS Distribution Platform will also make it easier for agencies to find the right insurers and MGAs for their commercial business.
“It is similar to the appetite product that exists at IVANS, but what these guys have built takes it to a whole different level,” IVANS CEO Reid Holzworth said. “They’ve added a whole lot of functionality already and are already connected with a lot of insurtechs and carriers. Long story short, it just made a lot of sense.”
Mike and Allan had the idea for Ask Kodiak when they were working together at an insurtech and decided to start their own business. Over the years, they got to know Reid and found that they shared a passion for making the industry better through technology. Although they enjoyed entrepreneurship, they’re excited about joining a company with more than 35 years of history that continues to push the industry forward.
“What’s interesting about IVANS is the footprint and traction that comes with a business that has roots the way IVANS does,” Mike said. “It puts us in a much better position to do something really interesting from a connectivity space. It’s true to the original mission of the business, but also still very interesting technologically speaking because there are a zillion problems to be solved in this realm of connectivity between carrier and agency.”
Building on ideas and solving problems
The IVANS and Ask Kodiak teams plan to continuously innovate, building on their products to help the insurance industry. Mike and Allan will soon be leading the IVANS Innovation Lab – a place where the two can innovate alongside the rest of the IVANS team.
“We’re fired up about having an innovation lab where we can churn out new product. For us, it’s about institutionally making sure everyone is contributing to better products,” Mike said. “Better product means better customer experience. Better customer experience means happier customers. Happier customers ultimately mean a better business. It all is related and that's the way we really look at this.”
“We’re fired up about having an innovation lab where we can churn out new product. For us, it’s about institutionally making sure everyone is contributing to better products.” —Mike Albert, Co-founder, Ask Kodiak
Reid, Mike, and Allan have talked about solving problems in the industry for years and they’re looking forward to having a space to do so now.
“For as long as we’ve known each other, we’ve talked about all of the big problems in the industry that if you got out of the way would help so much technically speaking. It’s fun. I love doing this stuff,” Reid said.
While both the IVANS and Ask Kodiak teams have already been focused on developing new products, this lab will bring that to the next level.
“There’s an opportunity to be a company that gets in front by looking forward and not worrying what other people are doing,” Allan said.
Read the full blog.
Tags: Commentary , IVANS Insurance , IVANS , Commercial Lines , Ask Kodiak