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Insurance tech company Zywave aquires rating engine RateFactory

Milwaukee, June 14, 2019 -  Wauwatosa insurance technology company Zywave acquired the Idaho-based group rating engine RateFactory, an engine that compares insurance plans and provides quotes from multiple insurance carriers, the company said Thursday.  

Both RateFactory’s employees and customers will join Zywave. RateFactory will continue to sell, service and support its products as Zywave begins working through integration of business operations in the coming months. Financial terms of the transaction were not disclosed.

RateFactory was founded to help insurance brokers with group presentations. 

“Joining Zywave will enable us to better serve our customers with additional resources and an even more valuable offering,” said CEO and co-founder of RateFactory Steve Kutina. "We also look forward to expanding Zywave’s new open partnership strategy by continuing to invest in integrations with enrollment companies and agency management systems to provide a true ‘one touch’ solution with the most accurate, comprehensive carrier-direct quoting available."

SOURCE Milwaukee Business Journal