SIMED
SIMED is a privately held, Puerto Rico-based medical malpractice insurance provider founded in 1986, underwriting Primary and Excess liability policies for physicians, dentists, podiatrists, naturopaths, and healthcare institutions, with proprietary claims management, risk analytics, and continuing medical education services.
- Company typePrivate
- Founded1986
- HeadquartersSan Juan, Puerto Rico
- Headcount101–250
- GTM typeB2B
- OfferingServices
What SIMED does
SIMED is a privately held medical malpractice insurance provider headquartered in San Juan, Puerto Rico, founded in 1986 to serve the island's medical professional community. The company underwrites Primary and Excess Claims Made liability policies for physicians, dentists, podiatrists, naturopaths, naturopathic doctors, and healthcare institutions. Primary coverage is structured at $100,000 per medical incident and $300,000 annual aggregate, while the Excess policy extends total limits up to $3 million in annual aggregate when combined with the primary policy. SIMED reports 6,500+ clients served, 18,000+ claims managed over its history, and $103 million in total assets.
The company's technical and service stack centers on the proprietary SIMED Claims Pledge methodology, which structures malpractice claims handling across planning, investigation, decision-making, and closure stages, and the SIMED Data HUB, an analytical platform that mines the company's own claims database for trend and risk-prevention insights by specialty, allegation, contributing factors, clinical setting, and severity. A 2016 strategic alliance with the Risk Management Foundation of the Harvard Medical Institutions / Candello provides access to a community dataset of 165,000+ physicians and 400 hospitals and underpins the SIMED Knowledge Sharing Community portal. Adjacent offerings include SIMED University (workshops, Medical Summits delivering 7-9 complimentary CME credits), Practice Management Consulting (SIMED 1-on-1) reserved for policyholders, free Tail Coverage for qualifying clients, and annual Cybersecurity Awareness campaigns run with the National Cybersecurity Alliance and CISA since 2019.
SIMED operates a sales-led, direct-to-consumer model priced via quote-based annual premiums with no deductibles and defense expenses that do not erode coverage limits. Distribution combines phone-based sales (787-641-2550), a digital self-service portal (micuenta.simedpr.com) for applications, certificates, and payments, and content marketing through a bilingual website, organic social channels, and SIMED University programming. The entire operating footprint is restricted to Puerto Rico, with no disclosed geographic expansion, M&A, external funding, or public-market activity.
SIMED firmographics
Firmographics- Name
- SIMED
- Legal name
- SIMED
- Website
- https://simedpr.com
- Company type
- Private
- Founded year
- 1986
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- SIMED is a privately held, Puerto Rico-based medical malpractice insurance provider founded in 1986, underwriting Primary and Excess liability policies for physicians, dentists, podiatrists, naturopaths, and healthcare institutions, with proprietary claims management, risk analytics, and continuing medical education services.
- Ownership category
- akta.pro rank
SIMED industry classification
Industry- Product category
- Medical Malpractice Insurance
- NAICS
- Direct Insurance (except Life, Health, and Medical) Carriers (52412)
- SIC
- Insurance Carriers, Nec (6399)
- akta.pro primary industry
- Medical Malpractice Liability (FSAJADAK)
- akta.pro secondary industries
- Healthcare Professional Liability (Med Mal) (FSAJAGAE), Follow-Form Excess Liability (FSAJANAD), Professional Liability (Errors & Omissions) (FSAJADAB)
Keywords
Where SIMED is headquartered
LocationHeadquarters
- HQ city
- San Juan
- HQ country
- Puerto Rico
- HQ region
- Latin America
Offices1 record
Markets served
SIMED business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Medical Malpractice Insurance Premiums: SIMED generates revenue through annual insurance premiums for Primary and Excess medical malpractice liability policies. Policies are priced based on the medical professional's specialty and practice scope. The Primary policy offers $100,000 per incident / $300,000 annual aggregate coverage. The Excess policy extends total limits up to $3 million in annual aggregate when combined with the primary policy.
- Professional Services (Practice Management Consulting): SIMED provides individualized Practice Management consulting services (SIMED 1 on 1) to help physicians understand risks and develop preventive and corrective strategies. This is an exclusive service for policyholders.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Primary Policy - Standard Coverage |
| Subscription | Annual | Excess Policy - Extended Coverage |
| Subscription | One time/ perpetual license | Tail Coverage (Cola) |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
SIMED product offering
Product offeringCore offering
SIMED underwrites and distributes medical malpractice professional liability insurance in Puerto Rico under 'Claims Made' policy forms, providing a Primary policy ($100,000 per incident / $300,000 annual aggregate) and an Excess policy that extends total limits up to $3 million in annual aggregate. The offering is reinforced by a proprietary claims management methodology (SIMED Claims Pledge), individualized Practice Management Consulting (SIMED 1 on 1) for policyholders, an educational platform (SIMED University), and a claims analytics tool (SIMED Data HUB).
Product overview
SIMED is a medical malpractice insurance provider operating since 1986 in Puerto Rico, offering a comprehensive portfolio centered on its Primary and Excess insurance policies. The Primary Policy (Póliza Primaria) provides core professional liability coverage with $100,000 per incident and $300,000 annual aggregate limits, while the Excess Policy extends coverage up to $3 million in combined annual aggregate. The company differentiates through complementary service offerings including Claims Pledge (a claims management methodology), Practice Management Consulting (SIMED 1 on 1), SIMED University (an educational platform with workshops and Medical Summits), and the Data HUB (claims analysis tool). A Private Client Portal provides 24/7 access to account management, certificates, and payments. The portfolio also includes Tail Coverage for extended reporting periods and a Knowledge Sharing Community developed through a strategic alliance with Candello/Harvard Medical Institutions.
Differentiator
Problem solved
Functional benefit
Brands
- SIMED University: Innovative educational platform for Risk Management and Patient Safety education, including workshops, talks, and Medical Summits.
- SIMED Data HUB
- SIMED Knowledge Sharing Community
- SIMED Claims Pledge
- SIMED 1-on-1
- SIMED U
Products and services
- Primary Policy (Póliza Primaria) Core 'Claims Made' medical malpractice insurance policy providing $100,000 per medical incident and $300,000 annual aggregate coverage for physicians, dentists, podiatrists, naturopaths, and naturopathic doctors practicing in Puerto Rico. No deductibles are charged and defense expenses do not erode coverage limits.
- Excess Policy (Póliza de Exceso)
Quantifiable outcome
- 40 years of operation protecting Puerto Rico's medical community since 1986
- +3 more outcomes
Companies that use SIMED
Customer profileNamed customers5 records
Segments5 records
Ideal customer profiles3 records
SIMED technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
SIMED partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- The Risk Management Foundation of the Harvard Medical Institutions / CandellocoreIn 2016, SIMED established a strategic alliance with The Risk Management Foundation of the Harvard Medical Institutions / Candello, a community dedicated to learning from medical malpractice claims and sharing methodologies, data, research, and strategies. This partnership provides SIMED access to trends, scientific data, tools, and proven risk management strategies from a community of over 165,000 physicians and 400 hospitals. The alliance enables SIMED to share best practices with Puerto Rico's medical community and provides the foundation for the SIMED Knowledge Sharing Community platform and SIMED Data HUB analytics.
Scale indicators5 records
Recent moves6 records
Expansion highlights5 records
SIMED competitors and assessment
Company assessmentDirect peers
- Coverys: A medical professional liability insurer providing malpractice coverage and risk management services to physicians, hospitals, and healthcare systems. Comparable to SIMED's med-mal focus, integrated claims management, and educational offerings.
- MagMutual: A physician-owned medical professional liability insurer offering malpractice coverage, risk consulting, and continuing education to doctors across multiple specialties. Comparable to SIMED's combination of insurance plus practice management consulting and educational content.
- The Doctors Company: The largest physician-owned medical malpractice insurer in the U.S., offering claims-made and occurrence policies to doctors, dentists, and allied healthcare professionals. Directly comparable to SIMED's specialty focus and Primary/Excess structure, though at national scale.
- Medical Protective: A Berkshire Hathaway-owned medical professional liability insurer serving physicians, dentists, and other healthcare providers across the U.S. Highly comparable to SIMED as a long-tenured specialty med-mal carrier offering Primary and Excess coverage with strong claims defense.
- NORCAL Group (ProAssurance): A medical professional liability carrier (now part of ProAssurance) serving physicians, medical groups, and healthcare facilities. Comparable to SIMED in its claims-made med-mal policies, risk management resources, and physician-centric service model.
- CRICO Strategies: A Harvard-affiliated medical professional liability and patient safety organization serving the Harvard medical community with claims data analytics and risk management. Directly comparable to SIMED's exclusive Harvard/Candello partnership and Data HUB analytics offering.
Broad incumbents
- Chubb: A global P&C insurer offering medical malpractice and healthcare professional liability as part of a broad specialty portfolio. Comparable to SIMED as a competitor in PR's med-mal market with significantly greater capital and geographic reach.
- ProAssurance Corporation: A specialty property-and-casualty insurance holding company with a substantial medical professional liability segment serving physicians, healthcare facilities, and other professionals. Comparable to SIMED's med-mal underwriting, but operating at national scale across multiple lines.
- Tokio Marine HCC: A specialty insurance group offering medical malpractice, professional liability, and other specialty lines through its U.S. operations. Comparable as a broader med-mal competitor with sophisticated claims analytics capabilities.
Regional players
- Physicians Insurance (Physicians Insurance A Mutual Company): A regional medical professional liability insurer serving the Pacific Northwest with malpractice coverage, risk management, and claims services. Comparable to SIMED's physician-focused mutual-style med-mal model and education offerings, though operating in a different U.S. region.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
SIMED social profiles
Digital presenceSIMED financial estimates
Financial estimateRevenue estimate
Valuation estimate
SIMED leadership team
Management profileNumber of profiles
SIMED funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
SIMED 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 SIMED
What does SIMED do?
SIMED underwrites and distributes medical malpractice professional liability insurance in Puerto Rico under 'Claims Made' policy forms, providing a Primary policy ($100,000 per incident / $300,000 annual aggregate) and an Excess policy that extends total limits up to $3 million in annual aggregate. The offering is reinforced by a proprietary claims management methodology (SIMED Claims Pledge), individualized Practice Management Consulting (SIMED 1 on 1) for policyholders, an educational platform (SIMED University), and a claims analytics tool (SIMED Data HUB).
Is SIMED a public or private company?
SIMED is a private company. It is classified as unknown and is currently operating.
When was SIMED founded?
SIMED was founded in 1986. It employs 101 to 250 people.
Where is SIMED based?
SIMED is headquartered in San Juan, Puerto Rico, in the Latin America region.
How does SIMED make money?
Two revenue lines are on record. Medical Malpractice Insurance Premiums are the primary driver. The others are professional Services (Practice Management Consulting).
Who are SIMED's main competitors?
Direct peers on record are Coverys, MagMutual, The Doctors Company, Medical Protective, NORCAL Group (ProAssurance) and CRICO Strategies. Broad incumbents are Chubb, ProAssurance Corporation and Tokio Marine HCC. Physicians Insurance (Physicians Insurance A Mutual Company) is listed as a regional player.
Does SIMED have an API?
No public API is recorded for SIMED.
What industry is SIMED in?
SIMED's product category is Medical Malpractice Insurance. Its primary akta.pro industry code is FSAJADAK, Medical Malpractice Liability, with a secondary code of FSAJAGAE, Healthcare Professional Liability (Med Mal). Its NAICS code is 52412 and its SIC code is 6399.