Crossfire in insurtech: Comulate strikes back at Applied System’s trade secrets suit

Title: Comulate Responds to Allegations of Trade Secrets Misuse by Applied Systems

In a recent dispute within the insurtech space, Comulate has issued a firm rebuttal against accusations from Applied Systems regarding the misuse of trade secrets. The lawsuit, which Comulate characterizes as a "sham," seems to be aimed primarily at discouraging joint customers from utilizing its services.

Background of the Dispute

According to the official announcement, Applied Systems has filed a lawsuit claiming that Comulate accessed its trade secrets improperly. The allegations suggest that Comulate’s actions could harm Applied’s business by directly affecting its customer relationships. A spokesperson informed us that: “Comulate’s predictable retaliatory claims are baseless and intended to deflect from its own corporate theft scheme exposed in our recent lawsuit. Applied welcomes fair competition but will not tolerate outright theft. We will hold Comulate accountable for stealing our trade secrets and are confident Comulate’s empty allegations will fail.”

Comulate's Position

In response, Comulate maintains that the lawsuit lacks merit and is merely a tactic to intimidate and deter shared customers. The company argues that the legal action is an attempt to monopolize the market by using fear to influence customer choices.

Key Players Involved

This situation highlights two significant players in the insurtech industry: Comulate, known for its innovative solutions, and Applied Systems, a long-standing provider of insurance technology services. The outcome could set precedents regarding competition and trade practices in the field.

Impact on Customers and the Industry

The ramifications of this dispute could extend beyond the two companies. Shared clients might feel uncertain about their choices amid these legal challenges. Furthermore, industry observers are likely to keep an eye on how this case unfolds, as it could influence future collaborations and competitive strategies within insurtech.

As this legal battle progresses, it promises to shed light on the complexities of competition and innovation within the industry, emphasizing the need for clear boundaries concerning trade practices.

Original Source: https://www.insurancebusinessmag.com/us/news/breaking-news/crossfire-in-insurtech-comulate-strikes-back-at-applied-systems-trade-secrets-suit-558933.aspx