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As of Jan 2020, these 128 SaaS companies are the largest in the Insurance Software space.

The Top Insurance Software SaaS Companies

This list tracks the largest private B2B Insurance Software SaaS companies by revenue. In total, this list features 128 companies with combined revenues of $1.9B.

These companies have raised a total of $1.6B. Together, these Insurance Software saas companies serve 12M customers and employ over 18K on their teams.

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Highlights

02
B
Benefitfocus

Insurance Software

Benefitfocus (NASDAQ: BNFT) provides a leading cloud-based benefits management platform that simplifies how organizations and individuals shop for, enroll in, manage and exchange benefits. Every day leading employers, insurance companies and millions ...

$268M
-
200K
13
2000
United States
03
IDA
Intellect Design Arean

Insurance Software

Intellect Design Arena Ltd is an Indian IT software services company. It is engaged in the business of software and financial technology development for banking, insurance and other financial services. The company operates under the primary business segment of Software Product Licence and related service. The entity derives revenue from the operations comprising income from its four business verticals, Global consumer banking and central banking; Risk; Treasury and markets; and Global transaction banking and insurance. Its products include Digital cards, Digital lending, Capital cube, Xponent, Digital core, Payments, Wealth Qube and others. The group has a business presence in India and other international countries.

$206M
-
240
4K
2011
India
04
V
Vertafore

Insurance Software

Vertafore, an Insurance Software Solutions for Carriers, Agencies, Brokers, MGAs, and MGUs. An Insurance Distribution Platform that manages business operations for Insurers, Distributors, enterprise-class Agencies and Independent Agents.

$200M
-
517K
2K
1969
United States
05
A
Acturis

Insurance Software

Acturis is accelerating digital transformation in insurance with the latest cloud-based software solutions for insurance brokers, insurers and MGAs.

$127M
-
80K
383
2000
United Kingdom
06
FC
Fineos Corporation

Insurance Software

FINEOS provides claims management software for insurance and insurance related organizations in North America, Europe, and Australasia.

$107M
-
80K
755
1993
United States
07
VSGI
Vitech Systems Group, Inc.

Insurance Software

Vitech Systems Group is one of the leading providers of administration software to insurance, retirement and investment organizations.

$82M
-
2K
908
1986
United States
08
MCSLLC
McCamish Systems LLC

Insurance Software

Infosys McCamish Systems, a U.S. based subsidiary of Infosys BPM, a part of Infosys (NYSE: INFY), is a leader in providing best in class technology platforms and service solutions for the financial services industry. With deep domain experience with Life Insurance companies, worksite product providers and retirement companies globally, we partner with our clients to help them stay ahead of the innovation curve.

$50M
-
-
561
1995
United States
09
PRIMASOLUTIONS
PRIMA SOLUTIONS

Insurance Software

Prima Solutions is a global InsureTech group in Europe, North America and Asia Pacific that designs software.

$45M
$4M
300
329
2000
France
10
HAMPH
HAMP Health

Insurance Software

Health Alliance provides health insurance services.

$41M
-
-
454
1980
Germany
1 - 10 of 123Next

What are the fastest growing companies doing?


83 of the fastest growing companies that also have the most revenue have a clear expansion revenue strategy. On average, sales reps are selling plans where starting contract value is $4,606.

Those same companies employ 1,678 sales reps that carry a quota. The most common compensation plan used by these companies is a 1:5 ratio of sales rep on target earnings (OTE) to quota. Meaning if a rep can earn $200k in base and commissions, quota target for that year is set at 5x, or $1m in new ARR closed.

If you’re going to build a high growth SaaS company, you need to figure out how to scale with quota carrying sales reps.

Which CEO’s are the most efficient capital allocators?


We can measure this a variety of ways. Which company has the most revenue per employee? What about dollars in revenue compared to dollars raised? What about time, which founder went from $0 to $10m the fastest?

Looking deeper at dollars in revenue compared to dollars raised, bootstrappers take the cake because they self fund (denominator zero). When we look at companies that have raised at least $1m, Actito is the clear winner generating $21m in revenue, growing 100% yoy, on just 1m raised ($.05 dollars raised for every $1 of revenue).

Omnisend comes in a close second with $.08 dollars raised for every dollar of revenue. Doing $19m as of December 2020. Proposify gets honorable mention with $0.46 dollars raised (3.25m) for every dollar of revenue ($7m).

The worst performers here are companies like YayPay with $3.68 dollars raised ($14m) per dollar of revenue ($3.8m). Many of the worst performers just did a round of funding and haven’t had a chance to deploy to drive growth yet. That makes this data less valuable but still illustrative.