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Tuesday, January 25, 2022

Zywave Acquires Insurance coverage Distribution, Quoting Software program Agency ClarionDoor

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Milwaukee-based Insurance coverage expertise agency Zywave experiences it has acquired Santa Barbara, Calif.-based ClarionDoor, a vendor of insurance coverage product distribution software program for the property/casualty market.

Zywave stated ClarionDoor’s digital distribution merchandise for carriers and managing common companies complement its personal configure, value. quote packages for insurance coverage companies and brokers, creating an entire suite of merchandise for insurance coverage carriers and distributors, from score and quoting via presentation to binding and issuance.

“Digital quoting is likely one of the quickest rising classes inside the insurance coverage trade,” stated Jason Liu, chief government officer of Zywave. Liu stated Zywave has “doubled down” on this area, changing into the primary supply configure, value, quote throughout all traces of enterprise.

Phrases of the transaction weren’t disclosed.

Based in 2010, ClarionDoor stated it serves greater than 75 prospects globally throughout all P/C traces starting from conventional traces to rising markets resembling hashish and cyber insurance coverage.

“For much too lengthy, typical insurance coverage programs targeted totally on the again workplace and uncared for the insurer’s wants of growing progressive merchandise and getting them out to {the marketplace},” stated Michael DeGusta, ClarionDoor’s chief government officer.

He stated ClarionDoor and Zywave share an “open, collaborative and tech-enabled imaginative and prescient for insurance coverage distribution.”

ClarionDoor’s merchandise are constructed for the cloud with an API-first structure. Amongst ClarionDoor’s merchandise is MGA Hub, which began out serving extra and surplus markets for managing common brokers. The corporate lately expanded this to help retail brokers and brokers in each the specialty and normal insurance coverage markets.

The corporate has workplaces in Santa Barbara and Philadelphia.

The ClarionDoor acquisition is the most recent by Zywave within the insurance coverage distribution course of. Earlier acquisitions on this area embrace IBQ Programs (2021), Insurance coverage Applied sciences Corp. (2020), RateFactory (2019), and Code SixFour (2018).

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