Zywave
Innovative Industry Standard Insurance Broker Software Solutions

The ascension new types of buyers is changing the insurance industry—ushering challenges as well as opportunities for insurance brokers. Buyers today are demanding more from brokers, and brokers are being challenged to meet that demand like never before. Buyers are seeking services that go beyond traditional ones such as providing plan quotes, claims and billing assistance and renewal negotiations. Employers want trusted guidance from their brokers in the matters of compliance, claims analytics, risk management, loss control, employee education and communication. To help brokers meet these new demands and needs, the Milwaukee, WI based company, Zywave, offers high-impact technology solutions and services for independent insurance brokers around the world. The company’s tools help brokers differentiate themselves, win new business, and deliver an amazing client experience with their current book of business leading to loyalty and retention.

“Two emerging trends in the market today, are that brokers are in need of technologies that help them provide benefits administration support to employers, and platforms that improve their digital marketing efforts,” affirms Dave O’Brien, Zywave CEO. The company has demonstrated its innovative spirit by incorporating products into their suite of solutions that address these exact needs. The company’s HRconnection® tool is an employee benefits portal that raises exit barriers helping brokers to protect their current book of business. Intygral, one of the industry’s most powerful marketing automation tools, was recently acquired by Zywave and is helping Zywave partners generate more leads, round out accounts and retain clients through hands-off digital marketing.

One way that Zywave remains innovative and differentiates itself from others in the same space, is by keeping a pulse on what consumers want and need, and what brokers are being asked to provide. Every year Zywave surveys thousands of employers, asking them what they expect from a broker. For example, from their 2015 annual survey of more than one-thousand employers, Zywave discovered that while 93 percent of employers expect their broker to provide compliant plan documents, more than 30 percent say their broker does not, or only partially provides, these documents.

We offer insurance brokers first-to-market, mission-critical software with deep industry expertise to help them sustain and grow profitable market share in a dynamic insurance environment

Zywave recognizes this disconnect and provides Wan compliance package solution, to fill the large gap between supply and demand.

With various other products – such as agency management systems, claims analytics tools, pharmacy benefit discount programs, a Mod analysis tool, and portals, Zywave is able to help brokers deliver a truly amazing experience to their clients—something that is critical for driving growth and retention for brokers. “What makes Zywave different is that we have all this incredible software in which we continually invest,” points out O’Brien, “but we also have entire teams of service and support staff to help ensure that our brokers know how to execute with and excel at using our solutions.”

To understand the true impact of its own products and solutions in the market, Zywave hired a firm to assess and analyze the ROI its partners were experiencing. The firm discovered that, on average, brokers using Zywave tools gained ten percent more contacts and saw a four percent increase in retention, a thirty percent decrease in the duration of their sale cycle, a ten percent increase in referrals, and a ten percent better closing ratio. “Our tools help brokers differentiate themselves and win new business, and retain clients,” says O’Brien. “Our sole purpose is to drive meaningful results for insurance brokers and their agencies, and we commit to doing this through continual R&D, evaluation of market trends, and by listening to what our partners and their clients have to say, and responding accordingly.”

Keeping up with the rapidly changing market is tough, but Zywave’s unique method of encouraging ideas for product innovation among employees, meeting face-to-face with partners, surveying employers and investing in R&D, have paved a way for impactful, relevant technology solutions.