11 May Positive Reaction to Acquisition of Relay Software by Applied Systems
The announcement that Applied Systems has acquired Relay Software has been met with general approval across the Irish insurance industry. Irish insurers and brokers are set to benefit from the acquisition and the move supports Applied’s commitment to international growth and further development of its product offering.
Set up in 1985, Relay is the main provider of insurance software to insurers and brokers in Ireland. The company employs approximately 100 insurance professionals with its main office in Belfast and additional offices in Dublin and Galway.
Relay was previously owned by the private equity firm HgCapital. The company traded successfully last year with pre-tax profits of £1.98m on a turnover of £5.3m
The acquisition brings together the largest provider of broker management systems in the world with the leading provider of insurance automation in Ireland.
Insurers and brokers are set to benefit with greater technical resources, deeper domain expertise and a broader product portfolio. In addition, the market place can take advantage of Applied’s extended solutions including customer self-service and mobile applications, Applied Cloud Services and additional insurer products.
Applied Systems has confirmed that it is committed to investing further in Ireland in order to develop new innovative technologies to scale growth.