Market Overview

Zywave Acquires InsurTech FrontRunner ITC, Becomes Only Provider to Offer Front-Office Solutions for Independent Insurance Agencies Across All Lines of Business

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MILWAUKEE, Nov. 24, 2020 (GLOBE NEWSWIRE) -- Insurance technology provider, Zywave, today announced the acquisition of Insurance Technologies Corporation (ITC), a leading provider of marketing, rating, and management software and services to the insurance industry. Together with Zywave's existing portfolio of solutions, the acquisition solidifies Zywave's position as the leading provider of solutions for carriers and independent insurance agencies to help them drive business efficiency and accelerate growth.

"Zywave and ITC share the same goal—to provide the absolute best tech solutions to help insurance professionals succeed in the modern marketplace," said Jason Liu, chief executive officer of Zywave. "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."

Founded in 1983, ITC is headquartered in Carrollton, Texas, and serves more than 250 insurance companies and more than 9,000 agencies. The company's products, all of which enable agency growth through greater efficiency and automation, include:

  • Agency Marketing Services & Solutions – A comprehensive 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 – A highly accurate, web-based personal lines rater that automates the quoting process and enables users to automatically receive multiple quotes instantly, currently powering more than 30 million unique quotes per year.
  • Agency Management System – The browser-based Agency Matrix agency management system (AMS) provides the foundation for P&C agency operations, increasing operational efficiency and simplifying day-to-day activities.

Zywave plans to align and integrate ITC's products with its Sales Cloud offering, which includes multiple front-of-office solutions that streamline mission-critical workflows to strengthen organic growth. Within the Sales Cloud, ITC's personal lines rating solution will be a natural complement to Zywave's exclusive suite of existing market-leading CPQ offerings that enable more efficient and accurate quoting and proposals for employee benefits and commercial lines quoting.

ITC's AMS will supplement Zywave's current AMS offering for employee benefits agencies with new options for the management of operations at insurance agencies offering personal and commercial insurance. Additionally, integrations with Zywave's Content Cloud will provide further differentiation and value to all areas of ITC's existing product portfolio.

"ITC's insurance solutions definitively round out our Sales Cloud with the most robust offering on the market," added Liu. "We are excited to expand our services to provide solutions that meaningfully change how independent agencies operate, regardless of their specialty."

"Our partnership with Zywave marks a truly monumental moment for our joint businesses," said Laird Rixford, chief executive officer of ITC. "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."

Together with Zywave's expansive client base, the ITC acquisition means the joint entity will serve more than 15,000 insurance organizations globally. This acquisition marks Zywave's largest to date and fifth in just over two years, reinforcing Zywave's continued commitment to investing in the insurance industry. Earlier this month, Zywave announced the acquisition of Advisen, the foremost provider of data, media and technology solutions for the commercial property and casualty insurance market. The Advisen acquisition coincided with the announcement of Zywave's new investor relationship with Clearlake Capital Group, L.P. who shares Zywave's vision to invest in the long-term strategic growth of the company, both organically and through M&A.

"Zywave is committed to bringing industry's best tech to our partners, empowering them with the tools they need to grow their business," said Liu. "We will continue to both invest in our existing products, while also enhancing our product portfolio with new acquisitions. At the same time, we are committed to providing extensive technical support and consultative services to our partners to help them succeed."

For more information on Zywave, visit www.Zywave.com.

About ITC
Insurance Technologies Corporation (ITC), founded in 1983, provides websites, agency marketing, comparative rating, and management software and services to the insurance industry, including independent agents and insurance carriers. Headquartered in Carrollton, Texas, ITC is the largest provider of insurance agency websites in the United States and powers more than two million monthly auto and home quotes through its comparative rater TurboRater. Currently, ITC serves more than 250 insurance companies and more than 9,000 agencies. For more information, visit us online at GetITC.com. 

About Zywave  
Zywave leads the insurance tech industry, fueling business growth for its partners with cloud-based sales management, client delivery, content and analytics solutions. Offering a technology platform embedded with robust data and the most comprehensive content portfolio available, we empower smarter business decisions throughout the entire customer lifecycle. More than 6,000 carriers, HCM service providers, agencies and brokerages worldwide—including all of the top 100 U.S. insurance firms—use Zywave solutions to enhance client services, achieve business growth and promote greater health, wellness and safety. Additional information can be found at www.zywave.com

Contact: April Larsen
april.larsen@zywave.com
414-918-0547


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