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Zywave's 2024 Stewardship Report: Leading the Way in Insurtech Innovation

Zywave, a prominent player in the insurtech sector, has recently published its 2024 Stewardship Report. This report sheds light on their strategies and achievements aimed at enhancing customer growth through a variety of innovative digital offerings. In an environment where businesses constantly evolve, Zywave has positioned itself at the forefront by introducing over 460 product releases in 2024 alone, an accomplishment that speaks to their commitment to improving product performance and user experience.

One of the key highlights of the report is the impressive growth noted across various product lines. Zywave reported a 16% increase in quote volume and a 31% rise in quoted premiums when compared to the previous year. Such figures not only demonstrate Zywave's growing influence but also confirm the effectiveness of its enhanced rating, quoting, and connectivity solutions.

Martin Simoncic, CEO of Zywave, emphasized the company's dual approach to measuring success. "At Zywave, we measure success both by what we've achieved, and just as importantly, by the business success and growth of our customers," he stated. This philosophy is instrumental in the service-based approach Zywave adopts, which has allowed many of their clients to navigate market challenges successfully during the past year.

Among the report's notable achievements, Zywave hosted four significant thought leadership events and over 40 free webinars, focusing on crucial industry topics. These events gathered nearly 1,885 attendees and featured contributions from over 150 speakers. This commitment to knowledge-sharing establishes Zywave as a key resource for insurance professionals seeking to enhance their practices.

The introduction of the Cyber Quoting solution is another advancement worth noting. This innovative tool integrates benchmarking and loss data into the pricing quote process, providing users with comprehensive insights into potential coverage and underlying risks. As the first of its kind in the industry, the centralized cyber quoting platform plays a vital role in enhancing distribution and encouraging new product development by cyber insurers.

Additionally, Zywave's miEdge Employee Benefits platform has been refined through the launch of the Broker Search feature. This enhancement allows insurers, service providers, and brokers to tap into a database of detailed information on roughly 6,000 potential broker partners. By simplifying access to a vast network of over 350,000 insurance professionals, Zywave greatly facilitates connections within the industry.

Zywave’s dedication to excellence has been acknowledged by multiple awards in the Stevie® Awards for Sales and Customer Service. Their innovative methods of utilizing data to enhance customer support and operational efficiency have earned them recognition as leaders in insurtech innovation. Moreover, being listed in Fintech Global's InsurTech100 highlights Zywave's position as a key innovator addressing substantial challenges in the insurance landscape.

As Zywave looks ahead to the future, it remains committed to delivering unparalleled services and solutions tailored to meet the unique needs of its partners, effectively acting as a catalyst for sustainable growth within the insurance sector. The 2024 Stewardship Report not only charts the company's past and present achievements but also offers a glimpse into the future of insurtech—a future in which Zywave seeks to play a pivotal role.

For additional details and insights from the full report, you can visit Zywave's official website at www.zywave.com.

Zywave continues to support the thriving landscape of the insurance industry with its innovative products and unwavering dedication to client success.