SmartPay Solutions

Name

SmartPay Solutions

Legal name

SmartPay LLC

Website

https://smartpayllc.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Insurance Premium Billing Software

NAICS

Payroll Services (541214), Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292), Accounting, Tax Preparation, Bookkeeping, and Payroll Services (54121)

SIC

Services-Prepackaged Software (7372), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Billing, Payments & Premium Finance Platforms (FSAGAGAI)

akta.pro secondary industries

Workers’ Compensation for Small Business & Pay-As-You-Go Programs (FSAJAEAG), Payroll Software & Payroll-as-a-Service (SaaS) (BPACAIAB)

Keywords

• Pay-as-you-go billing
• Insurance premium billing
• Workers compensation billing
• Payroll-driven premium billing
• Insurance billing SaaS

Headquarters

HQ city

New Haven

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. PayGo Premium Billing Services: SmartPay charges insurance providers and policyholders for premium billing services based on PayGo processing. The platform facilitates payments aligned with actual payroll data, charging fees for transaction processing and billing automation. Integration with 85+ insurance providers enables billing across workers' comp and other commercial lines.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

SmartPay Solutions provides a cloud-based SaaS platform that enables Pay-As-You-Go (PayGo) premium billing for workers' compensation and other variable-exposure commercial insurance lines. The platform calculates premiums in real time based on actual payroll data, integrates with 400+ payroll providers (including ADP, Paychex, and Intuit), and supports installment billing. It serves insurance carriers, agents, payroll companies, and policyholders through configurable integrations and a self-serve customer portal.

Product overview

SmartPay Solutions offers a unified SaaS platform for Pay-As-You-Go (PayGo) insurance premium billing. The core product is PayGo, which calculates workers' comp premiums in real-time based on actual payroll data. This integrates with the SmartPay Payroll Reporting Service (SPRS) for policyholders whose payroll providers don't directly connect, and a Portal for policyholders to manage their accounts. The platform connects to over 400 payroll companies including ADP, Paychex, and Intuit, serving insurance providers, agents, payroll companies, and policyholders. A Resource Hub provides documentation and onboarding support.

Differentiator

Problem solved

Functional benefit

Brands

• SmartPay Payroll Reporting Service (SPRS): A payroll reporting service that enables policyholders to use Pay-As-You-Go billing while continuing to work with their preferred payroll companies.

Products and services

• Pay-As-You-Go (PayGo) Premium Billing Platform Cloud-based SaaS platform that calculates workers' comp and other variable-exposure insurance premiums in real time based on actual reported payroll data, replacing estimated premiums and large upfront payments with PayGo billing for insurance providers, agents, payroll companies, and policyholders.
• SmartPay Payroll Reporting Service (SPRS) Turnkey payroll reporting service for policyholders whose payroll providers do not directly integrate with SmartPay; handles payroll reporting each pay cycle to enable PayGo billing without requiring the policyholder to change payroll systems.
• SmartPay Customer Portal Web-based customer portal that gives policyholders, agents, and providers real-time visibility into payroll reporting, premium calculations, payment activity, and account management for PayGo billing.
• Payroll Integration Network Integration network of 400+ payroll companies - including ADP, Paychex, and Intuit - that connect directly to SmartPay to feed payroll data into PayGo premium calculations, allowing policyholders to keep their existing payroll provider while enabling real-time billing.

Quantifiable outcome

• 40,000+ policyholders streamlined premium billing
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature4 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Insurance Providers (85+)coreChannel Partner/ Reseller/ DistributorSmartPay connects with over 85 PayGo programs and premium finance companies. Insurance providers partner with SmartPay to offer flexible PayGo billing to their policyholders, improving billing accuracy and reducing audit risk.
• Insurance Agents (4,500+)coreChannel Partner/ Reseller/ DistributorInsurance agents leverage SmartPay's network of providers to offer flexible PayGo options to policyholders, helping them compete with payroll companies and grow their book of business.
• Payroll Companies (400+)coreTechnology or Integration400+ payroll companies are integrated with SmartPay's platform, offering PayGo workers' comp billing to their clients without added operational complexity. Integration is no-cost and one-time.
• IPPA (International Premium Finance Association)minorOthersSmartPay is a proud member of IPPA, an industry association for premium finance professionals.
• AASCIF (American Association of State Compensation Insurance Boards)minorOthersSmartPay is a proud member of AASCIF, an association of state workers compensation boards and agencies.
• Target MarketsminorOthersSmartPay is a proud member of Target Markets, a marketing organization focused on the insurance industry.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Sila Solutions Group: Sila Solutions Group is a direct competitor providing Pay-As-You-Go premium billing and reporting services for the workers' compensation insurance industry, serving carriers, agents, and policyholders through a payroll-integrated SaaS platform.
• One Inc: One Inc is a digital payments platform built specifically for the insurance industry, enabling premium billing, claims payouts, and agent commissions. It is directly comparable to SmartPay's premium billing workflow and target buyer (insurance carriers).
• BillingTree: BillingTree provides vertical payment processing and EBPP solutions for insurance, healthcare, and other regulated industries. Its Payrazr platform competes with SmartPay in insurance premium billing and digital payment acceptance.

Broad incumbents

• Paymentus: Paymentus is a broader EBPP (Electronic Bill Presentment and Payment) platform serving utilities, insurance, and other billers at scale. It overlaps with SmartPay in insurance premium billing but serves a much wider portfolio of verticals.
• Invoice Cloud: Invoice Cloud is an established EBPP provider with deep penetration in insurance and other verticals. Its SaaS bill presentment and payment platform is comparable to SmartPay's billing and self-service portal for policyholders.
• Vertafore: Vertafore is a large incumbent insurance industry software provider serving carriers, agents, and MGAs with agency management, rating, and policy administration. It competes in adjacent workflows to SmartPay and could expand into premium billing automation.
• Applied Systems: Applied Systems is a leading insurance agency management system (AMS) provider, deeply embedded in independent agencies. Its scale and agency relationships make it a comparable insurance-tech incumbent that could vertically extend into billing workflows.
• Duck Creek Technologies: Duck Creek provides core insurance software (policy, billing, claims) for P&C carriers. Its Billing suite competes with SmartPay at the carrier level and could compress SmartPay's value proposition if carriers move PayGo billing in-house onto Duck Creek rails.

Emerging players

• Pie Insurance: Pie Insurance is a workers' comp insurtech focused on SMBs that uses payroll data for underwriting and pricing. While not a direct billing competitor, it shares SmartPay's payroll-data-driven approach to the same end customer segment and competes for carrier share of wallet.
• ADP Lyric HCM: ADP is both a SmartPay partner and a potential disintermediator: its Lyric HCM and RUN platforms process payroll for millions of SMBs and could embed workers' comp billing directly, reducing reliance on SmartPay. Comparable as a payroll-integrated billing channel.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/2378300
• Xx.com/smartpayllc

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds5 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SmartPay Solutions