Insurtech company Zywave has announced the acquisition of California-based ClarionDoor, the provider of insurance product distribution software available to the commercial insurance market.
Zywave said the purchase of ClarionDoor’s digital distribution solution for insurers and MGAs “solidifies” its UK-based company Web Connectivity Limited (WCL).
WCL’s enabled placing product, 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”.
Founded in 2010, ClarionDoor serves more than 70 customers globally across all commercial lines, ranging from traditional lines to emerging markets.
James Willison, managing director of WCL, said: “The partnership with ClarionDoor allows support of the full end-to-end placement process including automation of the price and quote processes.”
“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 exclusive distribution technology for carriers.”
Michael DeGusta, ClarionDoor’s chief executive officer, added: “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.
“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.”