Insurity

Insurity provides policy administration, claims, billing, and analytics software to more than 100 insurance companies. A market leader in deploying policy administration software and full service solutions to the property & casualty insurance market, Insurity’s solutions process billions of dollars of premium each month and address the needs of all carriers – large and small, national or regional, commercial, personal, or specialty lines writers, as well as MGAs.

Founded in 1985, Insurity has provided its software services to more than 250 clients, including Zurich, QBE, Sompo Japan Nipponkoa and Munich Re.

Insurity have acquired multiple businesses, including data analytics and risk intelligence company SpatialKey in December 2019.

Insurity was acquired by GI Partners, the middle-market alternative asset manager. GI Partners stated they plan to accelerate Insurity's growth in policy administration and software solutions. It had previously been acquired by Genstar in 2011, when it was the Insurance Software Solutions business of LexisNexis; Genstar rebranded it and made it an independent company, with Jeffrey Glazer as President and CEO.

In July 2020 Insurity acquired Virtual MGA, a cloud-based binding authority, underwriting and distribution solution provider based in Texas, USA.

The following year, in April, Insurity announced its acquisition of Instec, a SaaS-based policy administration platform. The move enables Insurity, which now serves more than 300 P&C carriers, to further increase in-depth ISO-support to mid-size P&C carriers, expand into the $40 billion program business, and broaden its offerings for MGAs. 

In July 2023 Insurity partnered with GeoX to provide property and casualty insurance companies with geospatial property data and first-floor elevation data to more accurately classify and assess risk. Insurity customers can now use GeoX’s proprietary artificial intelligence technology to automate the extraction of 3D objects from aerial imagery to create more precise risk models. During a time-limited promotion, Insurity and GeoX are offering a volume-based pricing model, to appeal to smaller and medium-sized carriers.

Later in August 2023 the company joined forces with AI firm Concirrus to revolutionise pricing and risk selection models in marine insurance. By integrating Concirrus' big data and machine learning capabilities with Insurity's marine cargo platform, insurers can achieve competitive pricing and optimise profitability while enhancing customer satisfaction. This partnership allows Insurity to offer predictive analytics to customers without building models themselves.