CapitalG, a venture capital trust owned by Alphabet Inc, acquired a minority stake in Applied Systems, the leading global provider of cloud-based software that powers the business of insurance. Financial terms were not disclosed. Gene Frantz of CapitalG said, “Applied Systems is a pioneer in the insurance industry, transforming the way insurers, agents and customers do business in the cloud. We are excited to partner with Applied in support of its rapid growth and best-in-class technology. We look forward to bringing some of the world’s leading experts at Google and Alphabet to drive innovation within the global insurance ecosystem.”