CLEARLAKE CAPITAL AND AURORA CAPITAL BACKED ZYWAVE ACQUIRES CLARIONDOOR, FURTHER ADVANCING TRANSFORMATION OF THE INSURANCE MARKET & LEADERSHIP POSITION IN END-TO-END CONFIGURE, PRICE, QUOTE TECHNOLOGY
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
30 November 2021 08:02
MILWAUKEE, Nov. 30, 2021 /PRNewswire/ — Insurtech leader, Zywave, today announced the acquisition of Santa Barbara, Calif.-based ClarionDoor, provider of the most intelligent insurance product distribution software available to the property and casualty (P&C) market. Together with Zywave’s existing configure, price, quote (CPQ) solutions for insurance agencies and brokers, ClarionDoor’s digital distribution solution for carriers and MGAs solidifies Zywave as the industry leader in end-to-end CPQ technology, from rating and quoting through presentation to binding and issuance.
“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.”
Founded in 2010, ClarionDoor serves more than 70 customers globally across all P&C lines, ranging from traditional lines to emerging markets. ClarionDoor’s mature insurtech solutions provide one of the first ever cloud-native, API-first, no-code, software as a service rating engines. Serving carriers, MGAs, brokers, and program administrators, ClarionDoor solves the challenges of the entire product distribution process from product innovation to policy generation, issuance and lifecycle management.
“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 series of several by Zywave over the last few years that demonstrate the company’s investment in the insurance distribution, quoting and proposal process. Previous acquisitions in this space include IBQ Systems (2021), Insurance Technologies Corporation (2020), RateFactory (2019), and Code SixFour (2018).
For more information on Zywave, visit www.Zywave.com.
About ClarionDoor
ClarionDoor is the provider of the most intelligent insurance product distribution software for rating, quoting, and issuance with a multitude of customers live today across the United States, Australia, New Zealand, and the United Kingdom. ClarionDoor’s breakthrough API-first, cloud-native technology enables MGAs, brokers, carriers, program 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. To learn more, visit www.clariondoor.com.
About Zywave
Zywave leads the insurtech industry, fueling business growth for its partners with cloud-based sales management, client delivery, content and analytics solutions. Zywave’s all-in-one platform provides customizable, user-friendly options that enable insurance professionals to build a unique solution to fit their specific growth goals–their own Modern RevOps Machine. More than 15,000 carriers, agencies and brokerages worldwide–including all of the top 100 U.S. insurance brokerages–use Zywave solutions to enhance client services, achieve business growth and promote greater health, wellness, risk management and safety. Additional information can be found at www.zywave.com.
Contact:
April Larsen
414-918-0547
