There's big news in the financial planning software world today.
Zywave Inc., a company of which I am unfamiliar, has reached a definitive agreement to acquire Emerging Information Systems Inc.
EISI's products are used by hundreds of thousands of advisers of different types throughout North America.
In fact, reading the stats in the Zywave press release I found it a bit peculiar that no one on the insurance side had already snapped up EISI.
Seems the Canadian based EISI and its two main products, NaviPlan and Profiles are already in use with three of the top five Canadian insurance companies and seven of the 10 largest U.S. life insurance companies.
Little wonder that Zywave, which serves the insurance broker space as a big provider of software-as-a-service applications of various sorts, would want to add it to its offerings.
Among Zywave’s claims to fame are the business management and customer relationship management applications it sells/provides to insurance brokers.
According to the prepared statement their applications are “used by 90 percent of the Top 100 U.S. insurance agencies.”