Acquisition Strengthens Commitment to Agent/Carrier Connectivity
AMS Services, a leading provider of software solutions for the insurance industry, announced the acquisition of BCF Technology, Inc., a privately-held insurance software and services provider based in North Carolina. Prior to the acquisition, BCF Technology and AMS Services had a multi-year partnership involving collaboration on the technology within the industry's most popular connectivity solutions, AMS SETWriteT and AMS TransactNOW®. This acquision is the next logical step in that successful connectivity partnership and strengthens AMS Services ability to provide the most comprehensive connectivity solution available to agents and carriers.
BCF Technology's suite of insurance industry solutions is designed to allow insurance carriers and agents to conduct real-time transactions across both new and existing technology platforms, thereby enabling broad carrier-agent connectivity. The breadth of integration capabilities within the suite ensures that all carriers can cost effectively enable real-time connectivity for their agents. BCF Technology initiatives have ranged from developing custom, single-carrier solutions to standards-based, multi-carrier solutions that can be extended across the entire industry. Some of BCF Technology's customers include Allied Insurance (a Nationwide company), CNA Insurance, OneBeacon Insurance and Wausau Insurance.
"BCF Technology's focus is on delivering comprehensive solutions to carriers that enable them to connect with their entire agency community," said Fred Covely, CEO of BCF Technology. "We are very excited to see AMS Services get fully behind this vision for broad, standards-based connectivity across all agency automation technologies."
"One of the insurance industry's best opportunities to increase efficiency is through better agent-carrier connectivity," said Euan Menzies, president and CEO of AMS Services. "AMS Services is wholly committed to this vision today and tomorrow. BCF Technology's deep experience in providing open, standards-based solutions will greatly further this goal."
For the past four years, AMS Services has invested heavily in connectivity solutions and with over 250,000 real-time transactions per month, is the leader in real-time connectivity among agency management system providers. AMS Services maintains the broadest array of connectivity transactions available including support transactions and new business transactions. Some of the carriers currently collaborating with AMS Services are Allied Insurance, Allstate Insurance, CNA Insurance, Hartford Insurance, Jimcor Agencies, St. Paul Travelers and Safeco.
Through the acquisition of BCF Technology, AMS Services is expanding its ability to provide comprehensive connectivity solutions that benefit both agents and carriers. Agents will be able to share information better and collaborate more easily with carriers, saving them time and money. Simultaneously, carriers will be able to more efficiently support their customers and write new business with agents due to easier electronic collaboration.
About AMS Services
AMS Services is dedicated to helping independent insurance agencies achieve maximum performance and operational efficiency. The business offers a comprehensive, insurance-specific solution for managing critical business activities, including agency management, rating, benefits, performance management and carrier connectivity. With more than 150,000 users in over 15,000 agencies, as well as 600 carrier partners, AMS Services is a proven market leader providing the strategy and scalability to help independent agencies excel now and in the future. For more information on AMS Services, please visit www.amsservices.com