The acquisition is expected to strengthen Zywave’s position as a service provider for carriers and independent insurance agencies
Zywave, a provider of insurance technology, has acquired Insurance Technologies Corporation (ITC), an insurance marketing, rating, management software and services provider, for an undisclosed amount.
The deal is expected to strengthen Zywave’s position as a service provider for carriers and independent insurance agencies.
Also, the acquisition will enable the company to deliver its operations, sales and marketing solutions to agencies selling employee benefits, commercial or personal lines of coverage.
Zywave chief executive officer Jason Liu said: “Zywave and ITC share the same goal, to provide the absolute best tech solutions to help insurance professionals succeed in the modern marketplace.
“With the combined offerings of our two companies, we are beyond excited to bring the most expansive and innovative tools to any agency selling any type of coverage, benefits, commercial or personal lines.”
Established in 1983, ITC is a Carrollton, Texas-based firm serving more than 250 insurance companies and over 9,000 agencies.
The company offers products including Agency Marketing Services & Solutions, Personal Lines Comparative Rater and Agency Management System.
Agency Marketing Services & Solutions is a complete digital agency marketing offering that includes website design, marketing communication automation, SEO and SEM, custom content services and social media services.
Personal Lines Comparative Rater, which is said to be a highly accurate, web-based personal lines rater, is designed to automate the quoting process and help users automatically receive multiple quotes in less time.
Agency Management System is a browser-based agency management system (AMS) that lays foundation for P&C agency operations, and increases the operational efficiency and simplifies every-day activities.
ITC chief executive officer Laird Rixford said: “Our partnership with Zywave marks a truly monumental moment for our joint businesses.
“Combined, our solutions have the potential to not only help insurance providers compete in the digital marketplace, but thrive in all aspects of selling and servicing the insurance consumer.
“ITC takes pride in the high level of support we offer our clients and remain committed to that support as we enter the next chapter.”
Zywave to integrate its Sales Cloud offering with ITC products
Zywave intends to integrate ITC’s products with its Sales Cloud offering, which includes several front-of-office solutions that simplify workflows and strengthen organic growth.
ITC’s personal lines rating solution will complement Zywave’s exclusive suite of existing CPQ offerings, within the Sales Cloud, enabling accurate quoting and proposals for employee benefits and commercial lines quoting.
The AMS solution from ITC would enhance Zywave’s existing AMS offering for employee benefits agencies with new options for the management of operations.
In addition, integration with Zywave’s Content Cloud is expected to further differentiate and add value to the ITC’s existing product portfolio in all areas.
Liu added: “ITC’s insurance solutions definitively round out our Sales Cloud with the most robust offering on the market. We are excited to expand our services to provide solutions that meaningfully change how independent agencies operate, regardless of their speciality.”