The Top Insurance Software SaaS Companies

As of Jan 2020, these 115 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 115 companies with combined revenues of $1.9B.

These companies have raised a total of $360.3M. Together, these Insurance Software saas companies serve 761K customers and employ over 18K 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. 11
    Myhippo

    Myhippo

    Insurance Software

    Hippo is a whole new approach to homeowners insurance—simpler process, smarter coverage, up to 25% savings. Now available in 16 states.

    $38M

    $290M

    160K

    150

    2015

    Insurance Software

  2. 12
    SmartHR

    SmartHR

    Insurance Software

    Developer of a cloud human resources software designed to automate social insurance and employment insurance procedures. The company's platform that enables users to fill out an online form and then generate digital versions of pension, employment insuranc

    $30M

    $194M

    114

    2013

    Insurance Software

  3. 13
    Shift Technology

    Shift Technology

    Insurance Software

    Shift Technology leverages the best of data science to automatically detect networks of fraudsters in insurance and e-commerce. The solution is integrated to our cutting edge Big Data platform, and is provided in a SaaS model.

    $25M

    $100M

    294

    2013

    Insurance Software

  4. 14
    CDP Group

    CDP Group

    Insurance Software

    Provider of human capital management services. The company operates a cloud-based platform that offers payroll outsourcing, benefit outsourcing, recruitment and expatriate services in the Greater China and Asia-Pacific region.

    $22M

    $118M

    430

    2004

    Insurance Software

  5. 15
    Unite

    Unite

    Insurance Software

    Today, thousands of sellers across the Internet are using Unite to advertise like a big brand and drive sales. Its time to join them.

    $20M

    456

    2012

    Insurance Software

  6. 16
    Findley

    Findley

    Insurance Software

    Findley is a provider of human resources consulting services. The company offers change management, financial performance, human resources effectiveness, market knowledge, risk management, talent management, actuarial consulting, defined benefit plan admin

    $17M

    204

    1969

    Insurance Software

  7. 17
    Softheon

    Softheon

    Insurance Software

    Provider of health insurance exchange and integration services intended to help clients improve their competitiveness and regulatory compliance. The company's services include health insurance exchange integration, direct enrollment, premium billing, edge

    $16M

    $200K

    193

    1994

    Insurance Software

  8. 18
    Sureify

    Sureify

    Insurance Software

    Developer of a life insurance information platform. The company develops a platform that enables users to choose and buy a life insurance policy.

    $15M

    $12M

    179

    2012

    Insurance Software

  9. 19
    CCS BV

    CCS BV

    Insurance Software

    Provider of insurance software. The company offers policy administration, management claim and risk management software to the insurance market.

    $14M

    192

    1983

    Insurance Software

  10. 20
    Infotech Global Inc

    Infotech Global Inc

    Insurance Software

    Infotech Global Inc. (IGI) was established in 1992 as a technical consulting firm with in-house functional expertise established for the healthcare, banking and insurance verticals. IGI services global Fortune 500 clients, with centers of excellence across

    $14M

    156

    1992

    Insurance Software

11-20 of 115

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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.