"Digital quoting is one of the fastest growing categories within the insurance industry," said Jason Liu, chief executive officer of Zywave. "Zywave has doubled down in this space, becoming the first insurtech provider to offer CPQ solutions across all lines of business. With the acquisition of ClarionDoor, we also gain an exclusive distribution technology for carriers."
ClarionDoor, founded in 2010, serves more than 70 customers globally across all P&C lines, from traditional lines to emerging markets. ClarionDoor's mature insurtech solutions offer one of the first cloud-native, API-first, software as a service rating engines. ClarionDoor solves the challenges of the entire product distribution process, from product innovation to policy generation, issuance, and lifecycle management, for carriers, MGAs, brokers, and program administrators.
"The distribution space has seen increasingly significant changes driving growth as digital innovation is adopted. Astute carriers are becoming more adept at evaluating distributors and integrating with agency management systems, comparative raters and stand-alone rating engines to help drive the next evolution of digital products and distribution strategies," commented Karlyn Carnahan, Head, North America Property Casualty for leading research and advisory firm, Celent. "The acquisition of ClarionDoor by Zywave puts them front and center in the digital distribution space with an opportunity to better connect carriers and distributors."
"For far too long, typical insurance systems focused entirely on the back office and neglected the insurer's needs of developing innovative products and getting them out to the marketplace," said Michael DeGusta, ClarionDoor's chief executive officer. "What makes this partnership so exciting for ClarionDoor and our customers is that ClarionDoor and Zywave share a more open, collaborative and tech-enabled vision for insurance distribution. Together, we will fundamentally transform the way insurance organizations do business."
The ClarionDoor acquisition is the latest in a string of recent Zywave acquisitions demonstrating the company's investment in the insurance distribution, quoting, and proposal process. IBQ Systems (2021), Insurance Technologies Corporation (2020), RateFactory (2019), and Code SixFour are examples of previous acquisitions in this space (2018).
To learn more about Zywave, go to www.Zywave.com.
About ClarionDoor
ClarionDoor is the leading provider of intelligent insurance product distribution software for rating, quoting, and issuance, with customers in the United States, Australia, New Zealand, and the United Kingdom. ClarionDoor's ground-breaking API-first, cloud-native technology enables MGAs, brokers, carriers, program administrators, and wholesalers to rate, quote, and issue for any line of business, allowing them to focus on innovation rather than implementation. For more information, go to www.clariondoor.com.
About Zywave
Zywave is a pioneer in the insurtech industry, providing cloud-based sales management, client delivery, content, and analytics solutions to its partners. Zywave's all-in-one platform offers customizable, user-friendly options that allow insurance professionals to create a one-of-a-kind solution tailored to their specific growth objectives—their own Modern RevOps Machine. Zywave solutions are used by more than 15,000 carriers, agencies, and brokerages worldwide, including all of the top 100 insurance brokerages in the United States, to improve client services, achieve business growth, and promote greater health, wellness, risk management, and safety. More information is available at www.zywave.com.