Last updated on March 17th, 2020 at 01:34 pm
Wauwatosa-based insurance tech company Zywave Inc. acquired miEdge, a data analytics company based in New Hampshire.
The acquisition will expand the company’s data services division, Zywave announced Thursday.
“The broad reach of data, unmatched filtering options, and year-over-year analysis functionality within miEdge make it like no other data source in the industry,” said Jason Liu, chief executive officer of Zywave. “These features combine to offer the most powerful, precise prospecting tool available to agency owners and brokers, unlocking potential for exponential business growth.”
Zywayve currently has 350 employees and serves roughly 5,300 brokerages worldwide. The acquisition marks the company’s third in just over a year.
In October 2018, Zywave acquired Chicago-based Code SixFour, a provider of proposal automation and advanced predictive analytics for employee benefits advisors. In June 2019, Zywayve purchased Idaho-based RateFactory, a small group rating engine linked directly to insurance carrier quoting systems.
As part of the acquisition, Mark Smith, founder and CEO of miEdge, will join Zywayve in a leadership capacity. His team of approximately 50 employees will also join Zywave, although they will operate out of a New Hampshire office.
“When we combine miEdge’s data with Zywave’s unparalleled content offering, the result will be transformational,” Smith said. “The concept of using data to deliver real-time and relevant content doesn’t exist in this business today, but with our new partnership, it becomes real.”
Founded in 2011, miEdge provides its data solutions to over 80% of the top 100 brokers in U.S. as well as many national and regional insurance carriers.