Insurtech Zywave acquires P&C data firm Advisen for global expansion
Insurtech Zywave has acquired commercial property & casualty insurance market data provider Advisen to further expand its portfolio and position in the US and European P&C market.
Advisen, backed by investment firm Clearlake Capital and headquartered in New York City with additional offices in the UK and Philippines, provides P&C-focussed data, media and technology solutions.
Zywave will leverage Advisen’s data offering to enhance its existing insurance database, and plans to further expand upon its data analytics and benchmarking tools.
Insurance technology provider Zywave said it seeks to invest in long-term strategic growth, both organically and through M&As.
Advisen marks Zywave’s largest acquisition to date and fourth in over two years.
Jason Liu, chief executive officer of Zywave, said: “Not only does the Advisen acquisition further broaden and deepen our product portfolio, but it also significantly bolsters our ongoing expansion into both the P&C and international markets.”
Eric Rentsch, senior vice president of product management for Zywave, added: “The combination of Zywave’s existing database with Advisen’s loss and policy data will offer insurance professionals the most unique corporate risk profiles available. These insights will help inform smarter, more strategic business decisions.”
Ron Adiel, chief executive officer of Advisen, commented: “I’m confident this is the right move for our company for all the right reasons, in particular, the strategic synergies across all our businesses. We look forward to achieving even greater growth as a combined entity.”
