InsurTech Zywave has acquired Ohio-based Strategic Insurance Software (SIS), a provider of web-based agency management systems (AMS) and customer relationship management (CRM) solutions for property & casualty insurance agencies.
Founded in 1995, SIS serves more than 800 broker customers, many of which focus primarily on commercial lines. SIS provides AMS and CRM solutions that streamline and automate workflows.
The acquisition will see the addition of SIS’s agency management system Partner Platform, specialising in commercial lines, be integrated alongside Zywave’s existing management systems. This, Zywave said, will provide customers with access to a complete portfolio of management systems for every line of business. The company added that the acquisition strengthens its position as “one of the most innovative, end-to-end InsurTech platform available to independent agents.”
Jason Liu, chief executive officer of Zywave, said, “Zywave’s primary goal is to enable profitable, organic growth for our customers. Many InsurTech solutions have historically focused on back-office workflows, continually trying to stretch AMS functionality to serve the needs of modern, high-growth agencies.
“Zywave has taken a flexible, modular approach to all aspects of front- and back-office workflows and tasks, enabling greater integration and application into all major workflows agencies need to scale their businesses.”
Terms of the transaction were not disclosed.
This deal marks Zywave’s ninth acquisition over the past three years, many of which, the company said, have focused on expanding Zywave’s property & casualty technology offerings. The InsurTech recently partnered with California-based ClarionDoor, provider of insurance product distribution software to the property and casualty (P&C) market.
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