The partnership establishes a complete suite of configure, price, quote (CPQ) solutions for insurers and distributors, from rating and quoting through presentation to binding and issuance
London – (Dec. 1, 2021) – Insurtech leader, Zywave, today announced the acquisition of Santa Barbara, California-based ClarionDoor, provider of the most intelligent insurance product distribution software available to the commercial insurance market. ClarionDoor’s digital distribution solution for insurers and MGAs solidifies Zywave and its UK-based company Web Connectivity Limited (WCL) as the industry leader in end-to-end CPQ technology and placing, from the placement of risk, rating and quoting through presentation to binding and issuance.
WCL’s enabled placing product, already used by London market insurers to aggregate placements from both London and US-based placing platforms, provides underwriters with a single, consolidated view of their digital placements. “The partnership with ClarionDoor allows support of the full end-to-end placement process including automation of the price and quote processes,” commented James Willison, Managing Director of WCL.
“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 commercial 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 insurers 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.
“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.co.uk.
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, insurers, 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.
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 customisable, 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 insurers, 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.co.uk.
Web Connectivity Limited (WCL), a Zywave company, provides the ability for firms to connect to and integrate with multiple placing platforms, implement electronic Accounting & Settlement and Claims solutions, greatly speeding up premium and claims payments, and provides links to bank statements to automate the movement of money.
WCL, a Zywave company, provides business solutions to insurance organisations looking to transform their operations using structured data. WCL’s solutions support the placement of risks, accounting and settlement and claims.
Set up in 2003, WCL allows organisations to streamline business processes by automating the secure, electronic transfer of data and documents between brokers and risk carriers, using internationally-agreed ACORD standards. This improves client service, increases process efficiency, reduces operational costs and eliminates unallocated cash.
WCL client list includes over 80 insurance and reinsurance organisations globally, including the majority of Lloyd’s Managing Agents, the world’s largest broking and carrier firms, based across the US, London, Bermuda, Continental Europe and Asia.
WCL provides the software to the majority of players engaged with the Ruschlikon Initiative, a joint industry project sponsored by insurance standards body ACORD. This project aims to connect the leading players in the insurance and reinsurance industry to advanced back office processes such as technical accounting, claims and settlement using the ACORD Global Reinsurance and Large Commercial (GRLC) Standard.
Media contact: Caitlin Haynes
Account Executive, Rein4ce
T: + +44 (0) 7568 572367
Issued by Rein4ce on behalf of WCL.