InsurTech Zywave has acquired Califorina-based ClarionDoor, provider of insurance product distribution software to the property and casualty (P&C) market.
According to Zywave, the partnership establishes a complete suite of configure, price, quote (CPQ) solutions for insurance carriers and distributors, from rating and quoting through presentation to binding and issuance.
Private equity firm Clearlake Capital acquired Zywave from Aurora Capital Partners in September this year.
Zywave’s all-in-one platform provides customisable, user-friendly options that enable insurance professionals to build a unique solution to fit their specific growth goals.
Founded in 2010, ClarionDoor’s InsurTech solutions provide an API-first, cloud-native technology enabling MGAs, brokers, carriers, programme administrators, and wholesalers to rate, quote, and issue for any line of business; getting them live in weeks, and liberating them to focus on innovation, not implementation.
Jason Liu, chief executive officer of Zywave, said, “Digital quoting is one of the fastest growing categories within the insurance industry.
“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.”
The ClarionDoor acquisition is the latest in a series of several by Zywave over the last few years. Previous acquisitions in this space include IBQ Systems (2021), Insurance Technologies Corporation (2020), RateFactory (2019), and Code SixFour (2018).
Copyright © 2021 FinTech Global
