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Zywave Buys Workers Comp Software Firm Modgic

A busy year despite a COVID-19 pause

A busy year despite a COVID-19 pause Share Downtown Milwaukee Southeastern Wisconsin companies continued to evolve through mergers and acquisitions over the past year. Here is a look at some of the region’s other significant deals: Wauwatosa-based insurance software company Zywave Inc. was acquired by… Want to Read More? Southeastern Wisconsin companies continued to evolve through mergers and acquisitions over the past year. Here is a look at some of the region’s other significant deals: Wauwatosa-based insurance software company Zywave Inc. was acquired by California-based private equity firm Clearlake Capital Group, L.P. from Los Angeles-based Aurora Capital Partners. Members of the management team, including CEO Jason Liu, invested alongside Clearlake Capital. Zywave also continued making its own deals, acquiring Texas-based Insurance Technologies Corp. and New York-based Advisen, which helped expand its international presence.

American Family Insurance to Acquire Small Business Insurtech Bold Penguin

American Family Insurance to Acquire Small Business Insurtech Bold Penguin Madison, Wisconsin-based American Family Insurance is acquiring insurtech company Bold Penguin that serves small businesses. The Bold Penguin digital exchange is used by insurance agents, brokers and other distributors to match, quote and bind policies from a range of insurers. Bold Penguin reduces the complexity of small business insurance buying. The insurtech, based in Columbus, Ohio, will become a subsidiary of the American Family Insurance group, pending regulatory approval and closing. Financial details of the transaction were not disclosed. The announcement said that Bold Penguin will maintain its name and business model, “operating with a relentless commitment to neutrality and confidentiality with its insurer, broker and agent customers.”

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