About InsurePay
InsurePay is a company based in Fort Lauderdale (United States) founded in 2003.. InsurePay has raised $5 million across 3 funding rounds from investors including Aquiline Capital Partners and FINTOP. InsurePay has completed 2 acquisitions, including AcordPay and ClearPay. InsurePay offers products and services including Pay-as-you-go Workers Comp Billing, Premium Payments, Reconciliation, Claims Payments, and Commissions. InsurePay operates in a competitive market with competitors including Functional Finance, SCIO Health Analytics, Ascend, AIR Worldwide and ePayPolicy, among others.
- Headquarter Fort Lauderdale, United States
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Sectors
Financial Services
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Email
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Phone
*********
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Website
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Social
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- Legal Name Split Limit Studios Llc
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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 M (USD)
in 3 rounds
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Latest Funding Round
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Investors
Aquiline Capital Partners
& 1 more
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Employee Count
Employee Count
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Investments & Acquisitions
AcordPay
& 1 more
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Products & Services of InsurePay
InsurePay offers a comprehensive portfolio of products and services, including Pay-as-you-go Workers Comp Billing, Premium Payments, Reconciliation, Claims Payments, and Commissions. 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.
Calculates premiums based on real-time payroll data for workers' compensation.
Offers flexible payment options to policyholders at zero cost.
Automatically reconciles payments from agencies and vendors.
Streamlines payments to policyholders for claims processing.
Automates payments to agency partners.
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Funding Insights of InsurePay
InsurePay has successfully raised a total of $5M across 3 strategic funding rounds. 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 3
- Last Round Last Round
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First Round
First Round
(17 Feb 2021)
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Apr, 2022 | Amount | Series B - InsurePay | Valuation | Aquiline Capital Partners , FINTOP |
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| Jan, 2022 | Amount | Series B - InsurePay | Valuation | Aquiline Capital Partners | |
| Feb, 2021 | Amount | Series A - InsurePay | Valuation | FINTOP |
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| 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 InsurePay
InsurePay has secured backing from 2 investors, including venture fund investors. Prominent investors backing the company include Aquiline Capital Partners and FINTOP. 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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Private equity and debt investments are directed toward financial sectors.
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Founded Year | Domain | Location | |
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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 InsurePay
InsurePay has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include AcordPay and ClearPay. 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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Accounts payable and receivable solutions are provided for insurers.
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2019 | ||||
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Carrier payment and settlement solution for the insurance industry
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2013 |
| 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 - InsurePay
| 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 |
Insurepay Comparisons
Competitors of InsurePay
InsurePay 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 Functional Finance, SCIO Health Analytics, Ascend, AIR Worldwide and ePayPolicy, 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 |
Online payment platform for insurance companies
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| domain | founded_year | HQ Location |
Provides payment integrity solutions for healthcare organizations
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| domain | founded_year | HQ Location |
Online insurance payments and premium financing are enabled for businesses.
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| domain | founded_year | HQ Location |
Cloud-based risk management solutions for insurance are provided.
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| domain | founded_year | HQ Location |
Insurance payments are collected online via ACH and credit cards.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| 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 Insurepay
Frequently Asked Questions about InsurePay
When was InsurePay founded?
InsurePay was founded in 2003 and raised its 1st funding round 18 years after it was founded.
Where is InsurePay located?
InsurePay is headquartered in Fort Lauderdale, United States. It is registered at Fort Lauderdale, Florida, United States.
Is InsurePay a funded company?
InsurePay is a funded company, having raised a total of $5M across 3 funding rounds to date. The company's 1st funding round was a Series A of $5M, raised on Feb 17, 2021.
What does InsurePay do?
InsurePay was founded in 2003 and is headquartered in Fort Lauderdale, United States. Operations focus on the insurtech sector, where a cloud-based platform is utilized to integrate with existing payroll systems. Insurance premiums are collected directly from employee payrolls based on signed policies. Services are extended to payroll providers, insurance carriers, agents, and policyholders to facilitate efficient management.
Who are the top competitors of InsurePay?
InsurePay's top competitors include Functional Finance, Ascend and AIR Worldwide.
What products or services does InsurePay offer?
InsurePay offers Pay-as-you-go Workers Comp Billing, Premium Payments, Reconciliation, Claims Payments, and Commissions.
How many acquisitions has InsurePay made?
Who are InsurePay's investors?
InsurePay has 2 investors. Key investors include Aquiline Capital Partners, and FINTOP.
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