Zywave, an insurance technology provider, has acquired of Bend, Oregon-based Modgic, a provider of workers’ comp and mod analysis software for the commercial insurance industry.
“The acquisition of Modgic is an exciting step as Zywave continues to consolidate the insurtech marketplace and expands its footprint, both in the U.S. and internationally,” said Jason Liu, chief executive officer of Zywave. “By combining the best aspects of the two solutions together, we look forward to bringing a superior product to our shared customers.”
“We are thrilled about the opportunity to work with a successful, established player in the industry to further enhance our solutions and bring a truly unsurpassed, robust offering to the marketplace,” said Scott Knowles, chief executive officer of Modgic.
The Modgic acquisition marks Zywave’s sixth in less than two years, reinforcing the company’s ongoing commitment to the insurance industry. In April 2021, Zywave acquired Enquiron, a provider of risk management and consultative business solutions. In November 2020, Zywave announced the acquisition of both Advisen, the foremost provider of data, media and technology solutions for the commercial property and casualty insurance market, and ITC, a leading provider of marketing, rating, and management software and services for the insurance industry.