WaterStreet Company

What WaterStreet Company does

WaterStreet Company, founded in 2000 by Gregg Barrett and headquartered in Kalispell, Montana, provides cloud-based property and casualty (P&C) insurance software and back-office services to carriers, managing general agents (MGAs), mutual insurance companies, and insurance startups. The company's core offering is an integrated P&C Insurance Suite comprising Policy Administration, Claims Management, Billing & Accounting, Business Intelligence, an Insured Portal, Underwriting Management, Document Management, and a RESTful API Toolkit, deployed as a fully managed solution on Microsoft Azure and leveraging Microsoft Power BI for analytics. WaterStreet is a Microsoft Gold Partner and processes approximately $9-10 billion in premiums through its platform.

Name

WaterStreet Company

Legal name

WaterStreet Company

Website

https://waterstreetcompany.com

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

101–250 employees

Short description

WaterStreet Company provides cloud-based policy administration, claims, billing, and business intelligence software for U.S. P&C insurers, MGAs, mutuals, and insurtechs, delivered as a managed platform on Microsoft Azure with embedded BPO services.

Ownership category

akta.pro rank

Product category

Insurance Software (P&C Policy Administration)

NAICS

Software Publishers (513210), Computer Systems Design and Related Services (54151)

SIC

Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro primary industry

Policy Administration, Underwriting & Rating Platforms (Core Insurance SaaS) (FSAGAGAB)

Keywords

• Insurance software solutions
• Policy administration system
• Claims management software
• Insurance business intelligence
• Insurance back-office services

Headquarters

HQ city

Kalispell

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. SaaS Platform Subscription: Cloud-based P&C insurance software delivered as a fully managed SaaS solution hosted on Microsoft Azure. Subscription-based model with implementation and configuration services included in engagement.
2. Professional Services (eFFicient Services): Back-office support services including eFFicient Payment Office, eFFicient Distribution, eFFicient Service Connect, and eFFicient PolicyAssist for policy processing, document management, and operational support.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

WaterStreet Company provides a cloud-based P&C (property and casualty) insurance software suite — including policy administration, claims management, billing and accounting, business intelligence, an insured portal, and an API toolkit — sold primarily as a SaaS platform on Microsoft Azure. The company also operates the eFFicient Service Suite, a set of back-office services (payment office, distribution, policy assist, customer service connect) that perform outsourced policy processing, billing, mail/print fulfillment, and customer support for carriers, MGAs, mutuals, and insurtechs.

Product overview

WaterStreet Company offers a cloud-based P&C Insurance Suite as a unified platform architecture with integrated modules for policy administration, claims management, and billing & accounting as the core components. The suite includes additional modules for Business Intelligence (Power BI-powered), Insured Portal (white-labeled policyholder portal), Underwriting Management, and Document Management. The platform is extended through a RESTful API Toolkit for third-party integrations. Separately, WaterStreet offers the eFFicient Service Suite as a set of back-office service sub-brands including eFFicient Payment Office (accounting/billing services), eFFicient PolicyAssist (policy operations support), eFFicient Distribution (print/mail fulfillment), and eFFicient Service Connect (customer service center). The entire platform is deployed on Microsoft Azure cloud infrastructure.

Differentiator

Problem solved

Functional benefit

Brands

• BOSS (Back Office Support Services): Outsourced back-office and support services for P&C insurance carriers, including policy processing, document management, and operational support.
• WaterStreet Business Intelligence Platform
• eFFicient Service Suite

Products and services

• Policy Administration System (PAS) Cloud-based policy administration system that manages the full insurance policy lifecycle from quote through cancellation, including underwriting workflow, policy issuance, endorsements, renewals, and billing integration. Sold to P&C carriers, MGAs, and mutual insurance companies.
• Claims Management Software Insurance claims management software that allows carriers to manage the full end-to-end claims process within one solution, from First Notice of Loss through settlement, including fraud detection and loss reserve management.
• Billing & Accounting Software P&C insurance accounting software fully integrated with claims and policy administration, supporting payment processing, premium accounting, regulatory reporting, and document management.
• Business Intelligence for Insurance Insurance-specific business intelligence platform built on a P&C insurance data model and powered by Microsoft Power BI, providing 50+ standard reports and data-driven insights through interactive visualizations and AI-powered anomaly detection.
• Insured Portal Fully branded and white-labeled policyholder portal included with the Policy Administration Suite, allowing policyholders to access and update policy details, schedule online payments, and engage through omnichannel communication options.
• Underwriting Management Underwriting management module that automates underwriting workflow with configurable business rules, eligibility screening, and real-time decision routing to improve operational efficiency.
• Document Management Document management system integrated with policy administration, billing, and claims for centralized document storage, generation, and distribution.
• API Toolkit RESTful API enabling connection to third-party solutions and providing access to customize and extend the functionality of the WaterStreet PAS to meet unique business needs.
• eFFicient Payment Office Back-office billing and accounting service including payment processing, lockbox operations, flexible billing and collections, reconciliation, commissions, and Escheat & 1099 services.
• eFFicient PolicyAssist White-glove policy operations support including document review, transaction processing, and exception resolution by P&C-certified specialists working within carrier systems.
• eFFicient Distribution Print and mail fulfillment services including direct mail, return mail management, promotions, and electronic distribution.
• eFFicient Service Connect Multi-channel customer service support including phone, live chat, and email assistance for rating, quoting, inspections, and underwriting processes, staffed by P&C licensed professionals.

Quantifiable outcome

• Up to 20% reduction in admin service costs with eFFicient Service Suite
• +9 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability5 records

Feature7 records

Partnerships

Two partnerships are on record, tiered core.

• Microsoft AzurecoreTechnology or IntegrationWaterStreet Platform is fully managed, deployed and hosted with Microsoft Azure web services. This high-availability solution delivers security and scalability to support all business lines in all states.
• Microsoft Power BIcoreTechnology or IntegrationWaterStreet Business Intelligence is built using Microsoft Power BI for best-in-class analytics and business intelligence capabilities. Company is a Microsoft Gold Partner.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Vertafore: Vertafore is a large, established provider of insurance agency management, rating, and carrier-side software across the U.S. P&C distribution chain. While broader and more agency-focused than WaterStreet's carrier core, it operates in the same P&C insurance software ecosystem with overlapping customer bases.
• Applied Systems: Applied Systems is the leading agency management system provider for P&C insurance agencies (Applied Epic, TAM, Epic for Brokers). It connects to carrier systems like WaterStreet via Ivans Download, making it an ecosystem incumbent that interacts closely with WaterStreet's platform.

Direct peers

• Guidewire Software: Guidewire is the dominant provider of cloud-based core systems (PolicyCenter, ClaimCenter, BillingCenter) for P&C insurers globally. It competes head-to-head with WaterStreet in policy administration, claims, and billing for mid-market and large carriers, making it the closest analog and primary competitor.
• Majesco: Majesco offers a cloud-native core insurance suite for P&C and life insurers (Policy, Claims, Billing, Underwriting), with strong overlap to WaterStreet in serving mid-market carriers and MGAs in the U.S.
• Sapiens International: Sapiens provides core insurance software platforms (Policy, Claims, Billing) and digital solutions for P&C and life insurers. Its P&C-focused offering and target on mid-size carriers make it a directly comparable peer to WaterStreet.
• Duck Creek Technologies: Duck Creek offers a cloud-native SaaS suite for P&C insurers covering policy, billing, and claims, with similar target customers including MGAs and mid-market carriers. It is one of WaterStreet's most direct competitors in modern cloud core systems for P&C.
• Insurity: Insurity delivers P&C insurance core software, analytics, and digital engagement solutions to carriers, MGAs, and self-insured entities. Its overlap with WaterStreet in policy administration, billing, and analytics for the U.S. P&C mid-market makes it a direct comparable.
• OneShield Software: OneShield provides a configurable core insurance platform for P&C, commercial, and health lines, including policy administration, claims, and billing. Its mid-market carrier and MGA focus overlaps meaningfully with WaterStreet's customer segments.

Emerging players

• EIS Group: EIS provides a cloud-native core insurance platform (policy, claims, billing, digital) primarily targeting larger insurers and digital-first carriers. It represents an emerging competitor with deeper API-first architecture aimed at modern P&C deployments.

Regional players

• Prima Solutions: Prima Solutions delivers P&C insurance SaaS platforms (Prima XL, Prima Compliance) primarily to European insurers and MGAs. While geographically focused, its product scope (policy, claims, compliance) and MGA target customer overlap meaningfully with WaterStreet's positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/WaterStreetCo
• Facebookfacebook.com/WaterStreetCompany
• LinkedInlinkedin.com/company/waterstreetcompany

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

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 WaterStreet Company