Insurance technology provider Zywave announced the acquisition of Insurance Technologies Corporation (ITC), a leading provider of marketing, rating and management software and services to the insurance industry.
Zywave said the acquisition enables it to deliver operations, sales and marketing solutions to agencies selling employee benefits, commercial or personal lines of coverage.
Financial details of the transaction were not disclosed.
This acquisition marks Zywave’s largest to date and fifth in just over two years. Just a week ago, Zywave announced the acquisition of Advisen, a provider of data, media and technology solutions for the commercial property and casualty insurance market.
Founded in 1983, ITC is headquartered in Carrollton, Tex., and serves more than 250 insurance companies and more than 9,000 agencies. 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.
ITC’s products include:
- Agency Marketing Services & Solutions. A comprehensive digital agency marketing offering that includes website design, marketing communication automation, search engine optimization (SEO) and search engine marketing (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 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 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 suite of existing configure, price, quote (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.
Together with Zywave’s client base, the ITC acquisition means the joint entity will serve more than 15,000 insurance organizations globally.
“Zywave is committed to bringing industry’s best tech to our partners, empowering them with the tools they need to grow their business,” said Jason Liu, chief executive officer of Zywave. “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.”
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