Zywave acquires IBQ Systems
Insurance technology provider Zywave announced the acquisition of Spokane, Wash.-based personal lines rater IBQ Systems (IBQ).
“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. What this means for our customers is more options and increased quoting efficiency, which ultimately leads to better profitability.” – Jason Liu, chief executive officer of Zywave.
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. 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.” – Brian Hopkins, CEO of IBQ Systems.
Founded in 1997, IBQ’s fully integrated online rater offers “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. 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.” – Eric Rentsch, senior vice president of product management at Zywave.