Zywave Acquires PLAN DOC Builder from Strategic Recovery Partnership
MILWAUKEE, WI, SEP 17, 2014 – Zywave, Inc. ("Zywave"), a leading provider of insurance software solutions, announced today that it has completed the acquisition of PLAN DOC Builder, a division of Strategic Recovery Partnership, a law firm specializing in subrogation rights. Terms of the transaction were not disclosed.
PLAN DOC Builder is a software tool that automatically produces compliant Health Plan Documents and Summary Plan Descriptions (SPDs). All employers subject to ERISA are required to provide compliant, easy-to-understand Summary Plan Descriptions to employees. In a 2014 Zywave survey of over 3,000 employers, more than 90% of respondents said that it was important or very important that their insurance broker help prepare their SPDs to comply with the ACA and ERISA. PLAN DOC Builder simplifies this process for health insurance brokers and their clients.
Commenting on the acquisition, Dave O’Brien, Chief Executive Officer of Zywave said, "Producing compliant plan documents is a crucial need for employers as the DOL substantially increases the number of ERISA compliance audits it conducts, and PLAN DOC Builder allows brokers to efficiently step in to fulfill this need. In conjunction with the Zywave suite of solutions, PLAN DOC Builder creates a compelling story for our network of brokers to gain and retain business."
Zywave is the leading provider of software-as-a-service (SaaS) technology solutions for the employee benefits and P&C insurance distribution industry. The company’s solutions include technology-enabled content and communication, agency automation, and business intelligence and analytics, designed to help insurance brokers of all sizes gain profitable market share. More than 2,700 clients, including 93 of the top 100 U.S. insurance firms, use Zywave’s proven solutions to help them differentiate from the competition, enhance client services, improve efficiencies and achieve organic growth. To learn more, visit www.zywave.com.
About Strategic Recovery Partnership
Strategic Recovery Partnership (SRP) is a law firm specializing in healthcare subrogation recovery. Since 1993, SRP has focused on maximizing recoveries, generating client revenue, leveraging state of the art technology, and providing unlimited legal support. SRP partners with client claim processes to identify potential subrogation cases and recovery opportunities, consistently achieving a proven revenue stream for TPAs and health plans. SRP was among the early firms to assist health plans arguing for full reimbursement of their clients’ interest that helped shape the healthcare subrogation industry. Learn more at www.srpsubro.com.