Hellman & Friedman-backed Applied Systems completed the acquisition of Planck.

Hellman & Friedman-backed Applied Systems, a provider of cloud-based software that powers the business of insurance, completed the acquisition of Planck, a provider of AI-based data platform for commercial insurance. Financial terms were not disclosed. “We believe the time is now to take bold steps to lead the insurance industry in discovering and implementing the benefits AI has to offer. By acquiring Planck, we will be investing behind a world-class team of AI and Data Science experts to accelerate the application of leading AI capabilities to insurance workflows. With our unique set of insurance technology assets that span both the agency and carrier sides of the market, our investment in Planck will deliver a significant opportunity to create AI-driven value throughout the next generation of the digital roundtrip of insurance in ways that will help our clients know more, do more of what differentiates them the most, and win more often,” Taylor Rhodes, Applied Systems CEO.