Surancebay
SuranceBay provides a SaaS platform that automates insurance producer licensing, contracting, and compliance across 50 U.S. states, serving carriers, agencies, producers, and TPAs in the life and annuity distribution market.
- Company typePrivate
- Founded2009
- HeadquartersBoca Raton, United States
- Headcount1–10
- GTM typeB2B
- OfferingSoftware
What Surancebay does
SuranceBay, LLC is a U.S. insurance technology company founded in 2009 and headquartered in Boca Raton, Florida, that provides a SaaS platform for insurance producer onboarding, licensing, contracting, and compliance. Its flagship product, SureLC™, is a multi-carrier contracting automation solution that handles producer licensing and appointment workflows across all 50 U.S. states for life insurance and annuity distribution, with stated scale of 750+ carriers' contracting forms, 1,000+ IMO/FMO/BGA organizations, 700,000+ producers served, and 70,000+ contracts submitted monthly. The platform is delivered through multiple modules — SureLC™, SureLC™ DataLink, SureLC™ One, SureLC™ Compliance+, Onboard (for carriers and TPAs), SureNB™ (new business application), and SureAMS™ (agency management) — designed to integrate all points of the insurance distribution value chain via Straight-Through Processing.
The company monetizes via subscription-based SaaS pricing (quote-based, monthly billing) and reaches customers through direct enterprise sales and channel partnerships with insurance carriers and agencies. Customer segments span insurance carriers, agencies (IMO/FMO/BGA), individual producers, and third-party administrators, with named enterprise and mid-market customers including Legal & General America, Bestow, Aspida Life Insurance Company, True Blue Life Insurance, The Brokers Source, and TermLife2Go. In July 2025, Verisk announced its acquisition of SuranceBay for $162.5 million in cash, with plans to integrate SureLC™ into Verisk's FAST platform serving the life and annuity insurance vertical; the acquisition is pending regulatory approval. The company has no disclosed institutional investors and operates exclusively in the U.S. market.
Surancebay firmographics
Firmographics- Name
- Surancebay
- Legal name
- SuranceBay, LLC
- Website
- https://surancebay.com
- Company type
- Private
- Founded year
- 2009
- Operating status
- Acquired
- Headcount range
- 1–10 employees
- Short description
- SuranceBay provides a SaaS platform that automates insurance producer licensing, contracting, and compliance across 50 U.S. states, serving carriers, agencies, producers, and TPAs in the life and annuity distribution market.
- Ownership category
- akta.pro rank
Where Surancebay is headquartered
LocationHeadquarters
- HQ city
- Boca Raton
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Surancebay business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Infrastructure, Marketing or Sales, Operations
Revenue model
- SaaS Platform Subscription: SuranceBay operates as a SaaS company providing subscription-based access to their SureLC™ platform and related modules. Customers (carriers, agencies, producers, TPAs) pay recurring subscription fees for access to licensing, contracting, and compliance automation tools. The platform supports 70,000+ contracts submitted monthly indicating significant transaction volume through the system.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Enterprise SaaS pricing for insurance carriers, agencies, and producers |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels4 records
Surancebay product offering
Product offeringCore offering
SuranceBay provides a SaaS platform, led by SureLC™, that automates insurance producer licensing, multi-carrier contracting, and compliance workflows across 50 states. The platform connects insurance carriers, agencies (IMOs, FMOs, BGAs), producers, and TPAs through Straight-Through Processing, supporting 70,000+ contracts monthly and 750+ carriers' contracting forms. Complementary offerings include the Onboard carrier solution module and the SureNB™ application for electronic quoting, drop-ticket submission, and new business processing.
Product overview
SuranceBay offers a SaaS-based platform with multiple integrated modules for insurance agent onboarding and compliance. The flagship product is SureLC™ (formerly SureApp™), which serves as the industry's leading multi-carrier contracting automation solution. The platform operates as a unified system with core and add-on modules including SureLC™, SureLC™ DataLink, SureLC™ One, and SureLC™ Compliance+, all designed to connect insurance carriers, agencies, and producers. Additional offerings include the Onboard carrier solution module and the standalone SureNB™ application for new business processing. The platform supports Straight-Through Processing and integrates all points of insurance distribution, with over 750 carriers, 1000+ IMOs/FMOs/BGAs, and 700,000+ producers served.
Differentiator
Problem solved
Functional benefit
Brands
- SureLC™: The industry's leading multi-carrier contracting automation solution; flagship SaaS platform for insurance agent onboarding and compliance.
- SureLC™ DataLink
- SureLC™ One
- SureLC™ Compliance+
- SureNB™
- SureAMS™
- Onboard
Products and services
- SureLC™ SaaS Platform The core SaaS platform that automates insurance producer licensing, multi-carrier contracting, and compliance workflows for insurance carriers, agencies, producers, and TPAs across 50 states.
- Onboard Web-based carrier solution within the SureLC™ platform that enables insurance carriers and TPAs to connect with contracting requests from distributors, captive agencies, and direct producers.
- SureNB™ Standalone application that enables users to electronically run quotes, submit drop-ticket orders, and complete new business applications for life insurance within a single comprehensive application.
- SureAMS™
Quantifiable outcome
- Processing time reduced by 50% - contracting requests reviewed and submitted within 5 business days compared to typical 10 business days
- +2 more outcomes
Companies that use Surancebay
Customer profileNamed customers6 records
Segments4 records
Ideal customer profiles4 records
Surancebay technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature7 records
Surancebay partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and flagship.
- BestowcorePartnership with life insurance technology company Bestow to enhance their producer onboarding process through SuranceBay's SureLC™ platform and new Onboard web-based application. Enables Bestow's License and Contracting team to review and submit contracting requests within 5 business days, half the typical processing time.
- Aspida Life Insurance CompanycoreAspida Life Insurance Company partnered with SuranceBay to develop their producer onboarding process. Through SuranceBay's SureLC™ platform, Aspida's License and Contracting team can create, review, and submit state appointments electronically.
- Legal & General AmericacoreLegal & General America selected SuranceBay's SureNB™ application to enable distribution partners to automate and enrich the new business application process. This builds on their earlier adoption of SuranceBay's flagship SureLC™ solution for licensing and contracting. LGA ranked fifth for new coverage issued in 2014, serving American families with life insurance for over 65 years.
- VeriskflagshipVerisk announced acquisition of SuranceBay for $162.5 million in cash in July 2025. SuranceBay's solutions including SureLC™ will be integrated into Verisk's FAST platform to improve efficiency and streamline processes between carriers, agencies, agents, and consumers in the life and annuity insurance sector.
Scale indicators9 records
Recent moves6 records
Expansion highlights5 records
Surancebay competitors and assessment
Company assessmentDirect peers
- iPipeline: iPipeline provides a SaaS platform for life insurance distribution including illustrations, e-applications, and underwriting workflow. It competes with SuranceBay in automating the life insurance distribution lifecycle for carriers and producers.
- Applied Systems: Applied Systems provides agency management and carrier-agency connectivity platforms (Applied Epic, Applied TAM) that compete with SuranceBay in automating insurance distribution workflows. It serves many of the same mid-market and enterprise agencies and carriers in the US property & casualty and life segments.
- Vertafore: Vertafore is one of the largest insurance distribution software providers in North America, offering agency management, carrier connectivity, and producer onboarding tools. It directly overlaps with SuranceBay's SureLC™ in multi-carrier contracting automation and serves the same carrier/agency/producer ecosystem.
- Insurance Technologies (FireLight/ASC): Insurance Technologies provides FireLight e-application and ASC (Application Service Center) products for life insurance new business and point-of-sale workflows. Its offering competes directly with SuranceBay's SureNB™ in the same life insurance new business processing category.
- IVANS (now Applied/Insurance Industry Exchange): IVANS provides industry-wide connectivity solutions for insurance distribution, enabling data exchange between carriers and agencies. Its messaging and download infrastructure competes with SuranceBay's SureLC DataLink in connecting the same insurance distribution ecosystem.
Others
- Verisk FAST: Verisk FAST is Verisk's life insurance policy administration and underwriting platform, which is acquiring SuranceBay to integrate SureLC™ into its broader carrier workflow stack. It is the most relevant ecosystem participant as the acquirer and integration partner shaping SuranceBay's future distribution.
Broad incumbents
- Zywave: Zywave offers a broad SaaS suite for insurance agencies and carriers spanning distribution, producer onboarding, and analytics. While not a pure contracting automation play, it overlaps with SuranceBay's workflows for agencies and competes for similar budget allocations.
- LexisNexis Risk Solutions: LexisNexis Risk Solutions provides insurance data, identity verification, and compliance tooling that insurance carriers use in producer onboarding and licensing checks. It is an incumbent in adjacent compliance workflows that SuranceBay's Compliance+ module competes with or integrates alongside.
Emerging players
- DocuSign: DocuSign provides electronic signature and agreement automation that some carriers and agencies use as a partial substitute for SuranceBay's contracting workflow. While not a domain-specific insurance platform, it competes for the same electronic contracting budget and could encroach on simpler contracting use cases.
- AgentCubed: AgentCubed provides insurance CRM, lead management, and producer onboarding tools aimed at agencies and MGAs. It overlaps with parts of the SureLC™ value proposition for the agency/producer segment.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Surancebay social profiles
Digital presenceSurancebay financial estimates
Financial estimateRevenue estimate
Valuation estimate
Surancebay leadership team
Management profileNumber of profiles
Profiles2 records
Surancebay funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Surancebay M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Surancebay
What does Surancebay do?
SuranceBay provides a SaaS platform, led by SureLC™, that automates insurance producer licensing, multi-carrier contracting, and compliance workflows across 50 states. The platform connects insurance carriers, agencies (IMOs, FMOs, BGAs), producers, and TPAs through Straight-Through Processing, supporting 70,000+ contracts monthly and 750+ carriers' contracting forms. Complementary offerings include the Onboard carrier solution module and the SureNB™ application for electronic quoting, drop-ticket submission, and new business processing.
Is Surancebay a public or private company?
Surancebay is a private company. It is classified as corporate owned and is currently acquired.
When was Surancebay founded?
Surancebay was founded in 2009. It employs 1 to 10 people.
Where is Surancebay based?
Surancebay is headquartered in Boca Raton, United States, in the North America region.
How does Surancebay make money?
One revenue line is on record: saaS Platform Subscription.
Who are Surancebay's main competitors?
Direct peers on record are iPipeline, Applied Systems, Vertafore, Insurance Technologies (FireLight/ASC) and IVANS (now Applied/Insurance Industry Exchange). Verisk FAST is listed as an others. Broad incumbents are Zywave and LexisNexis Risk Solutions. Emerging players are DocuSign and AgentCubed.
Does Surancebay have an API?
No public API is recorded for Surancebay.