Surancebay

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.

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

Headquarters

HQ city

Boca Raton

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, Infrastructure, Marketing or Sales, Operations

Revenue model

1. 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

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core 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

Named customers6 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

Feature7 records

Partnerships

Four partnerships are on record, tiered core and flagship.

• BestowcoreStrategic or Co-development Partner · 29 August 2022Partnership 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 CompanycoreStrategic or Co-development Partner · 18 July 2022Aspida 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 AmericacoreStrategic or Co-development Partner · 10 December 2015Legal & 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.
• VeriskflagshipStrategic or Co-development PartnerVerisk 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

Direct 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

• Xx.com/surancebay
• Facebookfacebook.com/surancebay
• LinkedInlinkedin.com/company/surancebay

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

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 Surancebay