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. 01
    Advisen Ltd.

    Advisen Ltd.

    Insurance Software

    Advisen Ltd. provides insight into underwriting, marketing and purchasing commercial insurance. Advisen's web-based workstation incorporates real-time analytics and research on over 15 million entities around the globe, subsidiaries, and thousands of indus

    $9M

    112

    2000

    Insurance Software

  2. 02
    Metromile

    Metromile

    Insurance Software

    Metromile is a car insurance company using data science and machine learning to offer drivers new and fairer insurance.

    $9M

    $293M

    496

    2011

    Insurance Software

  3. 03
    ClaimVantage

    ClaimVantage

    Insurance Software

    Provider of a cloud-based software intended to manage the complex world of legal obligations and disability claims. The company's cloud-based software manages employee absences under the Family and Medical Leave Act, enabling businesses pay a setup and tra

    $8M

    $2M

    96

    2005

    Insurance Software

  4. 04
    FJA-US, Inc.

    FJA-US, Inc.

    Insurance Software

    FJA-US is an information technology company specializing in insurance solutions.

    $8M

    $900K

    87

    1980

    Insurance Software

  5. 05
    xbAV AG ("Xpension")

    xbAV AG ("Xpension")

    Insurance Software

    Xpension is a trademark of xbAV AG, the German market leader in the digitalization of corporate pension & life insurance. Its software-as-a-service solutions allow life insurers, insurance agents, corporates and consumers to buy and manage pension & life i

    $6M

    $49M

    70

    2007

    Insurance Software

  6. 06
    Validus-IVC

    Validus-IVC

    Insurance Software

    Provider of SaaS-based claims-management and counter-fraud software services. The company's suite of software products are designed to enable the efficient assessment and processing of motor-insurance claims for its customer base along with value-added ser

    $5M

    62

    2007

    Insurance Software

  7. 07
    EZLynx

    EZLynx

    Insurance Software

    Developer of industry-leading cloud-based software intended to help independent agents operate their businesses more effectively. The company's software works with major carriers to integrate products, cultivate marketing partnerships, place consumer-facin

    $5M

    247

    2003

    Insurance Software

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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.