Denver, CO and Dallas, TX. March 3, 2016 – AVYST, formerly Wave Insurance Technologies, today announced it has completed a $2.5 million equity financing and is presenting at Vertafore’s NetVU Conference in San Antonio, TX. AVYST is providing the first fully integrated, cloud-based system to enable independent insurance agents to efficiently track, process, quote and issue new business.

The funding participants included the senior management and Board members of AVYST in addition to Agents Service Corporation (“ASC”), the for-profit arm of the Professional Independent Insurance Agents of Colorado (“PIIAC”).

“By making this investment, we are showing our commitment to always be the leader in providing innovative solutions to our members in Colorado”, said Bryan Bernier, CEO of PIIAC. “AVYST is positioned to be a leading technology provider to empower independent agents in Colorado and across the U.S. to capture additional market share from captive agents.”

“Enabling PIIAC members to be more productive and efficient is a necessity in today’s rapidly changing insurance market”, said Dot Miller, former CEO of PIIAC. “The AVYST solution will enable PIIAC members to have a competitive advantage and be uniquely positioned to succeed in the digital future.”

“Having ASC as both an investor and distribution partner is a clear validation of the power of the AVYST solution,” said Marc Still, CEO of AVYST. “Being an agency owner ourselves, we were tired of doing business the way it has always been done. From the duplicative data entry into all the carrier and quoting systems to always having to call customers and carriers with additional questions, we realized we were providing our customers with a poor and inconsistent experience and as a result often losing business to captive agents who can quote and issue a policy on a single phone call. We realized there must be a better way and as a result developed the AVYST solution to better manage our agency.”

 

About AVYST

AVYST, formerly Wave Insurance Technologies, Inc., is providing the first fully integrated, cloud-based system to enable independent insurance agents to efficiently track, process, quote and issue new business. AVYST has offices in Denver, CO and Dallas, TX. (www.avyst.com)

About Agents Service Corporation and PIIAC

(“ASC”) is the for-profit arm of the Professional Independent Insurance Agents of Colorado
(“PIIAC”). The Mission of the Professional Independent Insurance Agents of Colorado, Inc., working in the public’s best interest, is to advance, foster, and protect professional insurance agents, satisfy their political, educational, and business needs and provide professional products and services that will create a mutually beneficial environment for members while maintaining the highest ethical business standards. PIIAC affiliates with the national organization, Independent Insurance Agents and Brokers of America(IIABA), located in Alexandria, Va. (www.piiac.com)