About Insurance Technology
Insurance Technology is a company based in Colorado Springs (United States) founded in 1995 was acquired by Thomas H Lee Partners in September 2020.. Insurance Technology has raised $5.4 million across 1 funding round from investors including Thomas H Lee Partners, Palm Beach Capital and Moelis Asset Management. The company has 161 employees as of December 31, 2020. Insurance Technology has completed 2 acquisitions, including IXN Tech and MyMedicareBot. Insurance Technology offers products and services including FireLight Sales Platform, ForeSight Sales Illustrations, and Mobile App. Insurance Technology operates in a competitive market with competitors including Noyo, Px, GoHealth, Assurone and Joshu, among others.
- Headquarter Colorado Springs, United States
- Employees 161 as on 31 Dec, 2020
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Sectors
Financial Services
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Phone
*********
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Website
*********
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Social
*********
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$5.4 M (USD)
in 1 rounds
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Latest Funding Round
$5.4 M (USD), Private Equity Round
Oct 11, 2005
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Investors
Thomas H Lee Partners
& 2 more
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Employee Count
161
as on Dec 31, 2020
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Investments & Acquisitions
IXN Tech
& 1 more
- Acquired by
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Products & Services of Insurance Technology
Insurance Technology offers a comprehensive portfolio of products and services, including FireLight Sales Platform, ForeSight Sales Illustrations, and Mobile App. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Platform for digital sales in life insurance and annuities.
Software for comparing and presenting insurance products.
App for on-the-go quoting and sales in insurance.
Unlock access to complete
Funding Insights of Insurance Technology
Insurance Technology has successfully raised a total of $5.4M through 1 strategic funding round. The most recent funding activity was a Private Equity Round round of $5.4 million completed in October 2005. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Private Equity Round — $5.4M
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First Round
First Round
(11 Oct 2005)
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct, 2005 | Amount | Private Equity Round - Insurance Technology | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Insurance Technology
Insurance Technology has secured backing from 3 investors, including venture fund investors. Prominent investors backing the company include Thomas H Lee Partners, Palm Beach Capital and Moelis Asset Management. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Palm Beach Capital is engaged in private equity investments for growth-oriented companies in the U.S. lower middle market.
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Founded Year | Domain | Location | |
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Private equity investments are directed toward traditional industries.
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Founded Year | Domain | Location | |
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Asset management services involving loans, funds, and equity investments.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Insurance Technology
Insurance Technology has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include IXN Tech and MyMedicareBot. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Provider of solution for sales and marketing in life science sector
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2018 | ||||
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Software solutions for life insurance agents and carriers are provided.
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2011 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Insurance Technology
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Insurance Technology Comparisons
Competitors of Insurance Technology
Insurance Technology operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Noyo, Px, GoHealth, Assurone and Joshu, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Insurance data exchange and benefit administration solutions for employers
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| domain | founded_year | HQ Location |
Lead exchange platform is operated as SaaS for advertisers.
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| domain | founded_year | HQ Location |
Healthcare insurance solutions are offered via a digital platform.
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| domain | founded_year | HQ Location |
Insurance distribution solutions for Insurance players
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| domain | founded_year | HQ Location |
Digital distribution and sales solutions for insurance carriers are provided.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Insurance Technology
Frequently Asked Questions about Insurance Technology
When was Insurance Technology founded?
Insurance Technology was founded in 1995 and raised its 1st funding round 10 years after it was founded.
Where is Insurance Technology located?
Insurance Technology is headquartered in Colorado Springs, United States. It is registered at Colorado Springs, Colorado, United States.
Is Insurance Technology a funded company?
Insurance Technology is a funded company, having raised a total of $5.4M across 1 funding round to date. The company's 1st funding round was a Private Equity Round of $5.4M, raised on Oct 11, 2005.
How many employees does Insurance Technology have?
As of Dec 31, 2020, the latest employee count at Insurance Technology is 161.
What does Insurance Technology do?
Insurance Technology was founded in 1995 and is based in Colorado Springs, United States. Sales and regulatory automation solutions are delivered to the insurance and financial services sectors. ForeSight serves as a white-label mobile point-of-sale platform, supporting insurance sales processes across multiple business lines and distribution channels with tailored user interfaces. FireLight functions as a device-agnostic e-application platform, enabling automated fulfillment and straight-through processing for various sales workflows.
Who are the top competitors of Insurance Technology?
What products or services does Insurance Technology offer?
Insurance Technology offers FireLight Sales Platform, ForeSight Sales Illustrations, and Mobile App.
How many acquisitions has Insurance Technology made?
Insurance Technology has made 2 acquisitions, including IXN Tech, and MyMedicareBot.
Who are Insurance Technology's investors?
Insurance Technology has 3 investors. Key investors include Thomas H Lee Partners, Palm Beach Capital, and Moelis Asset Management.
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