Zywave acquires California-based insurance software company

Wauwatosa-based insurtech company Zywave announced the acquisition of the Santa Barbara, Calif.-based company ClarionPorte, a provider of insurance product distribution software for pricing, rating and issuance. Founded in 2010, ClarionDoor serves more than 70 clients worldwide across all P&C insurance lines. The terms of the contract are not disclosed. “Digital quotes are one of the fastest growing categories in the insurance industry,” said Jason Liu, CEO of Zywave. “Zywave has doubled down in this space, becoming the first insurtech provider to offer CPQ solutions across all industries. With the acquisition of ClarionDoor, we also benefit from proprietary distribution technology for carriers.” “The distribution space has seen increasingly significant change, driving growth as digital innovation is embraced. Smart carriers are increasingly adept at evaluating distributors and integrating with distribution systems. agency management, comparison raters and standalone rating engines to help drive the next evolution of digital product and distribution strategies,” said Karlyn Carnahan, North America property damage manager for the research firm and consultancy Celent. “Zywave’s acquisition of ClarionDoor puts them at the forefront of the digital distribution space with an opportunity to better connect carriers and distributors.”

“For too long, typical insurance systems have focused entirely on the back office and neglected the needs of the insurer to develop innovative products and bring them to market,” said Michael DeGusta, CEO of ClarionDoor. “What makes this partnership so exciting for ClarionDoor and our customers is that ClarionDoor and Zywave share a more open, collaborative and technological vision for insurance distribution. Together, we will fundamentally transform the way insurance companies do business.

The acquisition of ClarionDoor is the latest in a series of several by Zywave over the past several years that demonstrate the company’s investment in the distribution, listing and insurance application process. Previous acquisitions in the space include IBQ Systems (2021), Insurance Technologies Corporation (2020), RateFactory (2019), and Code SixFour (2018). Zywave has now completed eight acquisitions over the past two years. Earlier this year, Liu spoken with BizTimes Milwaukee on the company’s acquisition activity.