Insuresoft Named Top-Tier Software Vendor by APPS RUN THE WORLD in the APPS and CLOUD TOP 500 Market Report

1215 Insuresoft

Insuresoft Strengths, Domain Expertise, and Key Differentiators

Insuresoft provides a comprehensive and seamlessly integrated policy, billing, and claims-processing platform known as the Diamond Enterprise Insurance Platform. This state-of-the-art solution is currently operational in more than 50 insurance companies and MGAs, effectively covering all 50 states and facilitating the processing of an impressive $3 billion in personal and commercial lines premiums on an annual basis.

Designed with scalability and configurability in mind, the Diamond Enterprise Insurance Platform offers insurers the flexibility to adapt and tailor the system to meet their specific requirements. Moreover, its cost-effectiveness makes it an attractive choice for insurance companies seeking advanced technology solutions without compromising on efficiency and value.

As a privately held entity, Insuresoft operates with a focus on providing cutting-edge solutions and maintaining a strong commitment to excellence. Its membership in the esteemed Kaboodle Team further enhances its industry standing, fostering collaboration with other prominent P&C insurance software and service providers, and enabling the delivery of innovative products and services to the insurance sector.

Insuresoft Recent Developments

In recent years, Insuresoft has witnessed significant developments in its product offerings and strategic partnerships, propelling its growth in the insurtech market. One of the notable milestones was the integration of CARFAX vehicle history data into its pre-integrated solutions for auto insurers in August 2021. This move allowed Insuresoft to leverage CARFAX's vast vehicle history database, enabling insurers to make more informed underwriting and pricing decisions for personal and commercial auto insurance risks. This integration showcased Insuresoft's commitment to staying at the forefront of innovation by incorporating valuable data-driven insights.

Insuresoft Mergers and Acquisitions (M&A) Activities

In November 2019, Volaris Group completed the acquisition of Insuresoft, an industry-leading company in the insurtech sector. This strategic acquisition encompassed Insuresoft's flagship product, the Diamond System, a sophisticated digital insurance platform encompassing policy, billing, claims, and analytics modules tailored for the specific needs of property and casualty insurers.

Aligned with Volaris' guiding principles of strategic acquisitions to enhance and expand the portfolio, Insuresoft continues to operate independently while benefiting from valuable support, coaching, and best practices offered by Volaris. This collaborative approach ensures Insuresoft's brand identity is upheld, while also leveraging the expertise and resources of Volaris Group to further strengthen its position in the market.

Insuresoft Customers in ARTW Customer Database

Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Insuresoft applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Insuresoft and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Diamond Platform customers.

Insuresoft Overview

1701 N. McFarland Blvd.

Tuscaloosa, AL, 35406, United States

1 866-870-4387

https://www.insuresoft.com/


Ownership: - Volaris Group

Number of Employees: 150

Functional Markets: Analytics and BI, ERP Services and Operations,

Key Verticals: P&C Insurance,

Insuresoft Key Enterprise and Cloud Applications

Diamond Platform

Insuresoft Revenues, $M:

Type/Year20222023YoY Growth, %
Total Revenues, $M Subscribe Subscribe Subscribe
Enterprise Applications Revenues, $M Subscribe Subscribe Subscribe
Cloud Applications Revenues, $M Subscribe Subscribe Subscribe

* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.

Insuresoft Revenue Breakdown By Type, $M:

TypeLicenseServicesHardwareS&MSaaSPaaSIaaSOtherTotal
% of Total Revenues Subscribe Subscribe Subscribe Subscribe Subscribe Subscribe Subscribe Subscribe 100%
Revenues, $M Subscribe Subscribe Subscribe Subscribe Subscribe Subscribe Subscribe Subscribe Subscribe

Insuresoft Revenues By Region, $M

Region% of Total Revenues2023 Total Revenues, $M2023 Enterprise Applications Revenues, $M2023 Cloud Applications Revenues, $M
Americas Subscribe Subscribe Subscribe Subscribe
EMEA Subscribe Subscribe Subscribe Subscribe
APAC Subscribe Subscribe Subscribe Subscribe
Total Subscribe Subscribe Subscribe Subscribe

Insuresoft Direct vs Indirect sales

RegionDirect SalesIndirect SalesTotal
Type % Subscribe Subscribe Subscribe
Revenues, $M Subscribe Subscribe Subscribe

Insuresoft Customers - Breakdown by Geo, Size, Vertical and Product

List of Verified Insuresoft Customers


No. of Insuresoft Customers: 50

No. of Insuresoft Enterprise Applications Customers: 50

No. of Insuresoft Cloud Customers: x

No. of Insuresoft Cloud Subscribers: x


With over 50 P&C insurers putting their trust in the Diamond Platform, Insuresoft has built a robust and diverse customer base. Among its esteemed clientele are renowned insurers such as Southern Trust, AFA Insurance, AG Workers Insurance, AmShield Insurance, Armed Forces Insurance, Buckeye Insurance Group, Falcon Insurance Group, FIGO Pet Insurance, Grange Insurance, Indiana Farmers Mutual Insurance Co., and many others. This wide array of customers demonstrates Insuresoft's ability to cater to various segments of the insurance industry effectively.

Insuresoft's focus on regional expansion is evident from its presence across all 50 states, serving insurers nationwide. This customer breakdown by region signifies Insuresoft's commitment to becoming a key player in the U.S. insurance market, with a strong presence in different geographical locations.

Insuresoft Market Opportunities, M&A and Geo Expansions

Insuresoft recently unveiled a Business Intelligence (BI) Dashboard, an integrated extension to the Diamond Platform. This new feature empowers Insuresoft's clients with enhanced capabilities, allowing them to seamlessly conduct operational reporting and high-speed data analysis concurrently, leveraging the data warehouse's comprehensive resources. With the BI Dashboard, insurers gain valuable insights, enabling them to make well-informed decisions and optimize their operational processes efficiently.

Insuresoft Risks and Challenges

The future trajectory of Insuresoft hinges upon the strategic decisions and guidance provided by Volaris Group.

Insuresoft Ecosystem, Partners, Resellers and SI

In June 2021, Insuresoft significantly enhanced its integrations by collaborating with One Inc's advanced digital payments platform, facilitating seamless handling of both inbound premium payments and outbound claims payments.

Furthermore, Insuresoft's association with the esteemed Kaboodle Team exemplifies its active involvement in an insurance collaborative that specializes in delivering cutting-edge products and services to insurers. This collaborative ecosystem enables insurtech startups to leverage their offerings alongside established vendors, fostering innovation and advancement within the insurance industry.

Notable partners within this ecosystem include: insured.io, Splice, SVIA, Verisk, TransUnion, Polk, Prelude Software, CCC Insurance Carriers, Metropolitan Reporting Bureau, e2Value, NAMIC, IASA, PCI, Perr&Knight, Marias Technology, IVANS Insurance Solutions, LexisNexis, DocuSign, Microsoft, and HazardHub. Such strategic partnerships empower Insuresoft to offer a comprehensive suite of solutions, positioning it at the forefront of the dynamic and ever-evolving insurtech landscape.

Insuresoft Cloud Infrastructure Insights

Subscribe to read more about:

  • Insuresoft Public Cloud and Infrastructure (IaaS)
  • Insuresoft Platform (PaaS)
  • Insuresoft Application Delivery
  • Insuresoft Private Cloud and Data Centers

Research Methodology

Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.


Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).


For additional information on our methodologies, here's the link:

https://www.appsruntheworld.com/About Us
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Buyer Intent: Companies Reading this Research Report
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  1. DreamVPS, a Israel based Professional Services organization with 20 Employees
  2. DreamVPS, a Israel based Professional Services company with 20 Employees
  3. DreamVPS, a Israel based Professional Services organization with 20 Employees
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