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ZYWAVE ACQUIRES STRATEGIC INSURANCE SOFTWARE (SIS), STRENGTHENS POSITION AS AN INNOVATIVE LEADER IN THE DIGITAL INSURANCE AGENCY PLATFORM SPACE
The addition of SIS rounds out Zywave’s portfolio of agency management system solutions for employee benefits, commercial, and personal lines
MILWAUKEE, WI – (June 9, 2022) – Insurtech leader Zywave, backed by Clearlake Capital Group L.P. (together with its affiliates, “Clearlake”) and Aurora Capital, today announced the acquisition of Columbus, OH-based Strategic Insurance Software (SIS), a provider of web-based agency management systems (AMS) and customer relationship management (CRM) solutions for P&C insurance agencies. Terms of the transaction were not disclosed.
Together with Zywave’s existing management systems, which primarily serve employee benefits and personal lines, the addition of SIS’s agency management system Partner Platform, specializing in commercial lines, provides Zywave customers access to a complete portfolio of management systems for every line of business. This pivotal acquisition,combined with Zywave’s recent recognition as a leader by Forrester Research in “The Forrester Wave™: Digital Insurance Agency Platforms, Q1 2022” report, further strengthens the company’s position as one of the most innovative, end-to-end insurtech platforms available to independent agents.
“Zywave’s primary goal is to enable profitable, organic growth for our customers,” said Jason Liu, chief executive officer of Zywave. “Many insurtech solutions have historically focused on back-office workflows, continually trying to stretch AMS functionality to serve the needs of modern, high-growth agencies. Zywave has taken a flexible, modular approach to all aspects of front- and back-office workflows and tasks, enabling greater integration and application into all major workflows agencies need to scale their businesses.”
“When agencies more deeply integrate their management systems with modern sales management, client delivery, content and analytics solutions, it unlocks unlimited potential for greater automation, efficiency, and profitability,” added Liu. “That’s why Zywave offers its customers a flexible, end-to-end platform that seamlessly connects all aspects of digital insurance distribution, from front- to back-office. The acquisition of SIS will not only accelerate the ability for our commercial insurance customers to do just that, but it will also further transform the way our industry views the traditional AMS.”
Founded in 1995, SIS serves more than 800 broker customers, many with a focus on commercial lines, by providing agency management and customer relationship management solutions that streamline and automate workflows throughout an agency. SIS’s Partner Platform agency management system provides client, policy, business, and financial management capabilities. The platform also offers communications tools, including marketing automation and a client service portal.
“SIS is thrilled to be joining Zywave, a company that so closely aligns with our philosophy surrounding excellent customer care and continuous innovation,” said Alex Deak, chief executive officer of SIS. “With this partnership, we look forward to bringing even more value to the independent agent channel.”
This marks Zywave’s ninth acquisition over the past three years, many of which have focused on expanding Zywave’s P&C technology offerings.
Sherman & Company advised SIS on the transaction.
About Strategic Insurance Software
Headquartered in Columbus, Ohio, Strategic Insurance Software is the team behind Partner Platform – the agency management system that sets independent agents free from the status quo of over-paying and under-utilizing their agency software. “Partner” is more than a name – it’s who we are. For more information, please visit www.sispartnerplatform.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 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.
About Clearlake Capital
Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit, and other related strategies. With a sector-focused approach, the firm seeks to partner with management teams by providing patient, long-term capital to businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are technology, industrials, and consumer. Clearlake currently has over $72 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK, and Dublin, Ireland. More information is available at www.clearlake.com and on Twitter @Clearlake.
About Aurora Capital Partners
Aurora Capital Partners is a leading private equity firm focused principally on control investments in middle-market companies with leading market positions, stable industry dynamics, attractive business model characteristics, and actionable opportunities for growth in partnership with management. Aurora provides unique resources to its portfolio companies through its Strategy & Operations Program and its team of experienced operating advisors. Aurora’s investors include leading public and corporate pension funds, endowments and foundations active in private equity investing. For more information about Aurora Capital Partners, visit: www.auroracap.com.
Sherman & Company Served as Financial Advisor to Strategic Insurance Software