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
    Unirisx

    Unirisx

    Insurance Software

    Developer of insurance underwriting SaaS application and software designed to accelerate insurance innovation. The company's secure cloud-based insurance underwriting SaaS application offers a virtual, configurable and customized services in order to allow

    $969K

    11

    2001

    Insurance Software

  2. 02
    Proformex

    Proformex

    Insurance Software

    Developer of a life insurance policy management software designed to assist in policy monitoring and fiduciary management. The company's carrier and distribution agnostic platform proactively alert users of potential problems with their client's in-force p

    $966K

    39

    2016

    Insurance Software

  3. 03
    InsurePay

    InsurePay

    Insurance Software

    InsurePay is a workers' compensation administration and insurance premium billing platform for insurance providers.

    $900K

    $5M

    10

    2003

    Insurance Software

  4. 04
    oneEvent Technologies

    oneEvent Technologies

    Insurance Software

    Developer of a cloud-based learning and analytics platform designed to give information on upcoming dangers and disasters. The company's platform measure a variety of environmental data including smoke, temperature, carbon monoxide, humidity, water and mot

    $867K

    15

    2014

    Insurance Software

  5. 05
    Urbanhire

    Urbanhire

    Insurance Software

    Integrated HRIS to broker benefits, loans, insurance

    $828K

    $1M

    168

    42

    2016

    Insurance Software

  6. 06
    Maple Technologies, Llc

    Maple Technologies, Llc

    Insurance Software

    Maple Technologies is a provider of modern, cloud-based, core administration technology for property and casualty (P&C) insurance companies.

    $810K

    $56M

    9

    2001

    Insurance Software

  7. 07
    Paladin Cyber

    Paladin Cyber

    Insurance Software

    Developer of a cyber security software platform designed to offer comprehensive cyber security protection to small and medium-size businesses. The company's software provides phishing simulation, public WiFi protection, inbox protection, password managemen

    $787K

    13

    2017

    Insurance Software

  8. 08
    AgencyRoot

    AgencyRoot

    Insurance Software

    AgencyRoot™ is software that helps crop insurance agents manage and grow their business.

    $674K

    8

    2017

    Insurance Software

  9. 09
    WeSocio

    WeSocio

    Insurance Software

    $644K

    10

    2019

    Insurance Software

  10. 10
    Schedule it

    Schedule it

    Insurance Software

    Developer of personal scheduling assistant software tool designed to automate scheduling. The company's personal assistant software helps insurance claim filers to route their claims, enter file notes automatically, answer calls with real-time data in the

    $631K

    14

    2013

    Insurance Software

1-10 of 38

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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.