Wauwatosa-based insurance technology firm Zywave has acquired Washington-based IBQ Systems, the seventh acquisition the company has made in the past two years.
IBQ is a provider of tools for personal lines comparative rating. According to Zywave, the company has developed a large loyal user-based of independent agents who use IBQ’s online rating tool to offer accurate, efficient, real-time quotes to customers.
“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.”
Zywave also acquired Insurance Technologies Corporation in November 2020, which also has an online personal lines rater. Zywave plans to combine the best features of the two products into “the most sophisticated distribution platform” for all agents.
“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.”