InsurePay is a Nashville-based insuretech property and casualty (P&C) billing and payments platform that provides workers’ compensation Pay-As-You-Go (PayGo) billing. Its PayGo platform calculates workers’ compensation premiums based on actual payroll data rather than estimated annual payroll, enabling more accurate premium payments each pay cycle. The company streamlines delivery of policyholder, payroll, and premium data and delivers many of its solutions via a SaaS model to top insurance carriers. InsurePay serves insurance carriers, agents, payroll providers, and policyholders with flexible billing and payments options. The company used part of the Series B proceeds to acquire Split Limit Studios and its TRUPAY solution; Split Limit’s CEO George Kostakos joined InsurePay as chief revenue officer. Financial details of the transaction were not disclosed. InsurePay is a Sarasota, Fla.-based workers' compensation administration and insurance premium billing platform for insurance providers. Led by president and CEO Adam Beck, the company delivers a SaaS solution that calculates workers' compensation premiums using actual payroll data rather than estimated annual payroll amounts. By connecting with many of the top insurance carriers, InsurePay enables providers to offer a Pay-As-You-Go (PayGo) billing solution for policyholders. The company completed a $5M Series A financing led by Fintop Capital, with participation from other strategic industry investors. As part of the round, Fintop partners Joe Maxwell and Rick Holton will join the InsurePay board. InsurePay intends to use the funds to expand sales and marketing, accelerate product investments, and add new veteran personnel to the team.

Total raised

$5M

Funding rounds

2

Latest round

Series A

Latest activity

Feb 2021