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
    Breathe Life

    Breathe Life

    Insurance Software

    The modern individual insurance platform designed with those who sell and buy in mind

    $5M

    $12M

    51

    2018

    Insurance Software

  2. 02
    maria

    maria

    Insurance Software

    Developer of Saas based online insurance advisor tool designed to create and collect data during the interview process for any client or prospect business. The company's tool facilitates business insurance intermediation starting with complete capture of t

    $4M

    60

    2016

    Insurance Software

  3. 03
    Carpe Data

    Carpe Data

    Insurance Software

    Developer of predictive scoring and data products for insurers designed to provide a holistic view into each risk. The company's products leverages the social web, online content, wearables, connected devices and other forms of next-generation data to asse

    $4M

    $27M

    120

    2016

    Insurance Software

  4. 04
    WDEV

    WDEV

    Insurance Software

    Developer of a Saas based software. The company's Saas based software provides technology and operational consulting, straight through processing services, business and IT consulting, migrations, conversions, integrations and business process automation, e

    $4M

    51

    2009

    Insurance Software

  5. 05
    getRecords

    getRecords

    Insurance Software

    Provider of medical record retrieval and review services within California's Workers' Compensation Market. The company provides resource for legal records, orders, duplication, data collection and organization services to attorneys, physicians and insuranc

    $4M

    45

    2001

    Insurance Software

  6. 06
    Insurwave

    Insurwave

    Insurance Software

    Insurwave is a platform for the entire insurance ecosystem, serving multinational companies with complex insurance needs.

    $3M

    $6M

    35

    2018

    Insurance Software

  7. 07
    ebm

    ebm

    Insurance Software

    Hi, we're ebm. As a premier service provider of employee benefits technology solutions, we partner with benefit consultants, insurance carriers, and enrollment firms to streamline benefits administration, HR, and compliance processes for employers. Our T

    $3M

    35

    2011

    Insurance Software

  8. 08
    Aureus Analytics

    Aureus Analytics

    Insurance Software

    Developer of a big data analytics platform designed to solve specific business problems. The company's big data analytics platform utilizes predictive analytics and machine learning technologies to combine industry practices with relevant data and analytic

    $3M

    $5M

    46

    2013

    Insurance Software

  9. 09
    SASid

    SASid

    Insurance Software

    The company primarily operates in the Clothing industry. SASid was founded in 2013 and is headquartered in Janesville, WI.

    $3M

    36

    1999

    Insurance Software

  10. 10
    Emma

    Emma

    Insurance Software

    It's the simplest way to Buy your Life insurance Online.|We will be offering online wills this summer. We aim to close a Series A at a $30 million valuation before the end of 2021.

    $3M

    $500K

    3K

    13

    2017

    Insurance Software

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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.