Zywave Acquires Strategic Insurance Software (SIS), Strengthening Position as an Innovative Leader in the Digital Insurance Agency Platform Space
Insurtech leader Zywave, backed by 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 platform 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.