Applied Systems Adds French as CEO

Applied Systems, the provider of insurance software and services, will add Reid French as its new CEO, the company announced. French also joins the company’s board of directors. Applied Systems is backed by Bain Capital.

PRESS RELEASE:

Applied Systems, a leading provider of insurance software and services, today announced the appointment of Reid French as the company’s new chief executive officer.

As CEO, French will direct Applied Systems business strategy, develop and foster client relationships, and oversee all daily operations. He also becomes a member of the board of directors.

French succeeds James P. Kellner, a 26-year veteran of Applied Systems, who has served as chairman and CEO since 1998. Kellner takes on the role of non-executive chairman of the board and remains a significant shareholder in the company, owned by private investment firm Bain Capital.

French is a veteran software company leader with a strong record of achieving growth and operational excellence. He most recently served as chief operating officer of Intergraph Corporation, a global company at the forefront of geospatial and computer-aided design software with 4,000 employees in more than 50 countries. During French’s seven-year tenure with the company, Intergraph grew from $525 million in annual revenue to more than $840 million.

“I am honored to be joining Applied Systems at such an exciting time in the company’s history,” said French. “Applied Systems is a fantastic company with a solid foundation of innovation in developing software for insurance agency and broker management. I look forward to working with Bain Capital, Jim and the talented Applied Systems management team to serve our customers and grow the company by capitalizing on our unique position in the marketplace.”

“After nearly 26 years at Applied Systems, I am ready to pass the leadership baton so I can move into a role where I can help the company grow in new ways,” stated Kellner, who will preside over the board of directors, advise senior management and represent the company in insurance industry initiatives. “Our business and technical leadership have never been stronger. I have every confidence that Reid is the right person to lead the business in all ways that will best serve our agents, brokers, carriers and the entire industry.”

“Reid has a demonstrated record of success leading software businesses to sustained revenue growth and operational excellence, and we’re pleased to have him join our team,” noted Andrew Balson, managing director of Bain Capital. “We look forward to working with him to lead Applied Systems to new levels of success. We’re also very happy that we’ll go on working with Jim at the board level. His talents and deep industry expertise will continue to benefit our clients and the company.”

French holds a master’s degree in Business Administration from Harvard Business School and a bachelor’s degree from Davidson College. He serves on the board of directors of Gemcom International in Vancouver, British Columbia; and The Lovett School in Atlanta.

Applied Systems, Inc. develops, sells and supports insurance agency and broker management systems and provides services for accounting, customer, policy, claims management and all related agent and broker functions. More than 130,000 users in 11,000 agencies of every size and complexity level use Applied Systems solutions built around TAM(R), Epic(TM) and Vision(R) and DORIS(TM) insurance agency software. In addition, Applied Systems is recognized as a pioneer in advancing carrier communication with agents and brokers. The company continues its longstanding work to promote download and real-time technology.