The Top Insurance Software SaaS Companies

As of Jan 2020, these 117 SaaS companies are the largest in the Insurance Software space. (Click to apply)

This list tracks the largest private B2B Insurance Software SaaS companies by revenue. In total, this list features 117 companies with combined revenues of $1.9B.

These companies have raised a total of $360.3M. Together, these Insurance Software saas companies serve 11M customers and employ over 19K on their teams.

$0 - $1M ARR
  1. Unirisx $968.9K
  2. Proformex $965.9K
  3. InsurePay $900.0K
  4. Urbanhire $828.0K
$1M - $5M ARR
  1. maria $4.5M
  2. WDEV $4.3M
$5M - $10M ARR
  1. Metromile $9.2M
$10M+ ARR
  1. Sapiens $382.9M
  2. Benefitfocus $268.1M
  3. Vertafore $200.0M
  4. Acturis $127.0M
  1. 01
    Sapiens

    Sapiens

    Insurance Software

    Sapiens International Corporation is a publicly traded company, headquartered in Israel, that develops computer software for the insurance industry, with a growing presence in the financial services sector.

    $383M

    600

    3K

    1982

    Insurance Software

  2. 02
    Benefitfocus

    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

    1K

    2000

    Insurance Software

  3. 03
    Intellect Design Arean

    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 segmen

    $206M

    240

    4K

    2011

    Insurance Software

  4. 04
    Vertafore

    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

    Insurance Software

  5. 05
    Acturis

    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

    385

    2000

    Insurance Software

  6. 06
    Fineos Corporation

    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

    Insurance Software

  7. 07
    Vitech Systems Group, Inc.

    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

    Insurance Software

  8. 08
    McCamish Systems LLC

    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 I

    $50M

    561

    1995

    Insurance Software

  9. 09
    PRIMA SOLUTIONS

    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

    Insurance Software

  10. 10
    HAMP Health

    HAMP Health

    Insurance Software

    Health Alliance provides health insurance services.

    $41M

    454

    1980

    Insurance Software

1-10 of 117

Next

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.