Zywave Enhances its Industry-Leading CPQ Solution for Employee Benefits
Leading insurtech provider, Zywave, today announced enhancements to its CPQ for Employee Benefits solution, including the expansion of its carrier data with new lines of coverage added across the United States. Continued carrier expansion has contributed to a 144% increase in the number of plans available over the past year. To further that growth trajectory, Zywave is continually adding more carrier rating API’s, additional carriers and more lines of coverage.
Zywave offers a complete suite of configure, price, quote (CPQ) solutions for insurance carriers and distributors, from rating and quoting through presentation to binding and issuance, across all lines of business. In the past year, more than 18,000 users have run over 30 million quotes using Zywave’s CPQ technology for employee benefits, commercial and personal lines. Zywave CPQ for Employee Benefits makes quoting seamless for small group clients and enables brokers to configure, price and quote benefit plans with a single census upload. Through increased utilization and adoption, the number of quotes created within the platform has increased year-over-year by 114%, making it the fastest growing quoting and proposal solution in Zywave’s portfolio.
“As Zywave continues to grow, the expansion of Zywave CPQ for Employee Benefits was a natural development to enable us to better serve both brokers and carriers,” said Eric Rentsch, Zywave’s senior vice president of product management. “The evolution and growth of our quoting and proposal solutions play a key role in Zywave’s mission to power digital transformation at every stage in the insurance lifecycle.”
First in the market with a recent integration is United Healthcare’s rating API, which allows users to access rates immediately and directly from the carrier quoting system. This ensures complete accuracy and quoting is mirrored within United Healthcare’s quoting system, saving brokers additional time. In all, over 50% of the plan data within Zywave’s platform is fed via carrier-direct API with the remaining plan data all being sourced through direct relationships with carriers.
“Zywave is working hard to expand our partnership with a number of new carriers,” added Harrison Hahn, director of carrier relationships. “As we move through 2022 we are looking to build new relationships and add even more carriers to this already robust list.”
Carriers in the recent expansion of Zywave CPQ for Employee Benefits include: United Healthcare, Blue Cross and Blue Shield of Texas, Blue Cross and Blue Shield of Illinois, Blue Cross and Blue Shield of Oklahoma, Blue Cross and Blue Shield of New Mexico, Blue Cross and Blue Shield of Montana, Renaissance Benefits, VSP Vision Care, and Kansas City Life Insurance Company, among others.
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