Insurance technology company Zywave said it will acquire Insurance Technologies Corporation (ITC), a provider of marketing, rating and management software and services for the insurance industry.
Neither side is disclosing financial details.
This acquisition marks Zywave’s largest to date and fifth in just over two years. Just a week ago, Zywave said it would snatch up Advisen, which produces data, media and technology products and services for the commercial property and casualty insurance market.
Founded in 1983, ITC is based in Carrollton, Tex., with more than 250 insurance companies and more than 9,000 agencies as clients. ITC said it is the largest provider of insurance agency websites in the United States and supports more than two million monthly auto and home quotes through its comparative rater TurboRater.
Zywave plans to align and integrate ITC’s products with its Sales Cloud offering, which includes front-of-office products that streamline mission-critical workflows to strengthen organic growth. Within the Sales Cloud, ITC’s personal lines rating product is intended to complement Zywave’s roster of existing configure, price, quote (CPQ) offerings that enable more efficient and accurate quoting and proposals for employee benefits and commercial lines quoting.
ITC’s AMS will supplement Zywave’s current AMS offering for employee benefits agencies with new options for the management of operations at insurance agencies offering personal and commercial insurance. Additionally, integrations with Zywave’s Content Cloud will provide further differentiation and value to all areas of ITC’s existing product portfolio.
Together with Zywave’s client base, the ITC acquisition means the joint entity will serve more than 15,000 insurance organizations globally.
*A version of this story ran previously in our sister publication Insurance Journal.