Insurance Technologies Corporation
Have updates for this profile? Please contribute data
= Subscriber Access Only
You are viewing a preview of this profile. Request a Preqin Pro demo for full access to all profiles and underlying data.
With Preqin Pro, you gain an unobstructed view of all alternative asset class activity across institutional investors, fund managers, funds, portfolio companies, deals, exits, and service providers.
Insurance Technologies Corporation - overview
Established
1983
Location
Carrollton, TX, US
Primary Industry
Software
About
Insurance Technologies Corporation provides innovative software solutions designed to enhance the operational efficiency of insurance agencies, focusing on streamlined workflows and improved client engagement. Founded in 1983 in Carrollton, US, Insurance Technologies Corporation specializes in software solutions for the insurance sector. The company was acquired by Zywave Inc. in December 2020, as Zywave aimed to enhance its offerings in the insurance technology space.
Insurance Technologies Corporation offers a range of digital solutions that improve operational efficiency within insurance agencies. Their flagship product, the Insurance Agency Website Builder, enables agencies to create personalized websites for client engagement. Additionally, the company provides advanced APIs that facilitate data integration and streamline quoting processes, catering to insurance brokers and service providers across North America and parts of Europe. The company generates revenue through subscription-based models for its software solutions, including the Insurance Agency Website Builder and various API integrations.
Clients enter into annual or monthly agreements to access these services, tailored to their specific operational needs. Insurance Technologies Corporation may also collaborate with other technology providers to enhance their service offerings, ensuring a consistent revenue stream. In November 2020, Zywave Inc. acquired Insurance Technologies Corporation, completing the transaction in December 2020, with details of the financial terms undisclosed.
This acquisition is part of Zywave's strategy to expand its service offerings by integrating Insurance Technologies' solutions. Moving forward, the company plans to develop new products aimed at enhancing agency operations, while also targeting expansion into additional markets in Europe by 2023.
Current Investors
Aurora Capital Partners, Clearlake Capital Group, Zywave Inc.
Primary Industry
Software
Sub Industries
eMarketing/Digital Marketing, Email, Web Development, Accounting/Finance Software, Sales & Marketing Software, Systems Management Software
Website
www.getitc.com
Verticals
InsureTech, Mobile Apps, Social Media
Company Stage
Add-on
Total Amount Raised
Subscriber access only
Insurance Technologies Corporation - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Add-on, Trade Sale | Completed | Insurance Technologies Corporation | - | ||||||||
| Buyout | Completed | Insurance Technologies Corporation | - |
Displaying 1 - 2 of 2
Time to go Pro
Get Preqin Pro for unrestricted access to 600,000+ detailed profiles on fund managers, investors, funds, companies, and other alternative asset players. Unlock exclusive data on future plans, company financials, fundraising history, track records, and more.