Zywave Inc., the Wauwatosa-based insurance technology firm and the region’s largest software company, announced it has acquired Enquiron, a provider of risk management and consultative business solutions, for undisclosed terms.
The 25-year-old Boston company provides on-demand risk management solutions to employers in the property and casualty insurance, healthcare and human capital management markets. The company serves more than 100 of the top P&C, healthcare and HCM organizations in the US, according to the release.
Zywave CEO Jason Liu stated Enquiron’s combined data, service solutions and processes made it an attractive business opportunity.
“We are incredibly impressed with Enquiron’s proven return on investment, long-term relationships and continued growth,” he added in the release. “By joining our two companies together, we look forward to bringing even more resources, support and deep industry knowledge to our shared customers.”
Zywave will incorporate Enquiron’s solutions into its product cloud portfolio and offer its proprietary services to its existing customers. The two organizations plan to integrate operations but have not yet shared details of the expansion.
“With this new partnership, we are excited to grow Enquiron to the next level, while expanding the service capabilities and suite of products available to our customers,” said Mike Naclerio, Enquiron CEO. “Aligning with a partner like Zywave that has extensive insurance industry experience to understand our customers’ specific needs was of key importance. We are excited for the opportunity to join forces with their team and contribute to a market-leading solution set.”
This is the fifth acquisition for Zywave within the past two years. In November, the company announced two acquisitions: Advisen, a provider of data, media and technology solutions for the commercial property and casualty market, and ITC a provider of insurance marketing, rating, and management software.
“Zywave remains committed to bringing industry’s best technology to our partners, empowering them with the tools they need to grow their business,” Liu said. “We will continue to invest in our existing products, while also enhancing our product portfolio with new acquisitions. At the same time, we are dedicated to providing technical support and consultative services to our partners to help them succeed.”
In December, Zywave announced it was acquired by Clearlake Capital Group, a private investment firm in Santa Monica, California. Prior to the deal, the company reported more than $100 million in annual revenue. The company provides its technology offerings to more than 15,000 insurance carriers, agencies, and brokerages worldwide.
