MILWAUKEE, June 30, 2021 /PRNewswire/ -- Insurance technology provider, Zywave, today announced the acquisition of Spokane, Wash.-based IBQ Systems (IBQ), an insurtech leader in personal lines comparative rating. The acquisition significantly expands Zywave's inventory of carriers, and combined with Zywave's existing personal lines comparative rater, TurboRater, will deliver the market-leading solution to independent agents offering personal lines. The combined solution will further enable users to help their customers quickly and easily identify the coverage they need for the best price.
"Not only does Zywave's addition of IBQ help further enhance our existing portfolio of quoting and proposal solutions for all lines of business, but it also expands our connectivity with even more carriers, particularly in the Pacific Northwest," said Jason Liu, chief executive officer of Zywave. "What this means for our customers is more options and increased quoting efficiency, which ultimately leads to better profitability."
The IBQ acquisition marks Zywave's seventh in the past two years. In November 2020, Zywave acquired Insurance Technologies Corporation (ITC) and its signature TurboRater, an online personal lines rater that enables agents to automatically receive multiple carrier quotes instantly, powering more than 30 million unique quotes per year. With the IBQ acquisition, Zywave will combine the best features of both personal lines rating solutions to bring the most sophisticated distribution platform to all agents.
"Unlike other insurance technology providers, Zywave leads the market with modern software that is 100 percent cloud-native, unencumbered by legacy systems," said Brian Hopkins, CEO of IBQ Systems. "We look forward to working with Zywave to take full advantage of IBQ's existing deep carrier connectivity, and continue to build together to take full advantage of Zywave's strength and vast distribution reach."
Founded in 1997, IBQ Systems is an insurance technology leader in personal lines comparative rating. IBQ has cultivated a large, loyal user-base of independent agents who rely on IBQ's fully integrated online rater to offer accurate, efficient, real-time quotes to consumers.
"We plan to work closely with the IBQ team to integrate and combine the industry leading functionality within TurboRater and IBQ Systems into a single, cohesive system," said Eric Rentsch, senior vice president of product management at Zywave. "In under 12 months, over 600 leading insurance agencies across the country have selected Zywave Sales Cloud to power the growth of their insurance agency operations. IBQ and TurboRater will further this momentum, as a market-leading combined personal lines quoting and proposal offering, within Zywave's broader Sales Cloud suite of technology."
Zywave continues to make significant investments in both product development and the acquisition of new solutions to further expand the front-office capabilities of insurance agents and brokers while also enabling carriers to grow their distribution in the U.S. and abroad.
For more information on Zywave, visit www.Zywave.com.
Zywave leads the insurance tech industry, fueling business growth for its partners with cloud-based sales management, client delivery, content and analytics solutions. More than 15,000 carriers, agencies and brokerages worldwide—including all of the top 100 U.S. insurance brokerages—use Zywave solutions to enhance client services, achieve business growth and promote greater health, wellness, risk management and safety. Additional information can be found at www.zywave.com.
Contact: April Larsen