Insurance Technology Solutions

What Insurance Technology Solutions does

Insurance Technology Solutions, LLC (ITS) is a privately held software company founded in January 2000 by Fred L. Nuss, headquartered in Connecticut, that develops the TopSail platform exclusively for the Property & Casualty insurance and reinsurance industry. The TopSail suite is a web-based, service-oriented architecture built on Microsoft .NET (VB.NET), Microsoft SQL Server, Windows Server, and Crystal Reports, and comprises an integrated Policy Administration system (rate, quote, bind, issue, endorsement, renewals, premium/loss accounting, and statistical reporting) plus modules for Claims Management, Facultative Reinsurance Placement, a Financial Models framework, and a proprietary Rating Engine. The Rating Engine is the company's most distinctive technical asset: it is the only industry solution that web-enables existing Microsoft Excel-based rating models while preserving original formulae and macros, not just the underlying factors and data, which materially reduces the cost and project-failure risk of deploying complex insurance rating algorithms. ITS is an AAIS Business Partner and a Verisk (ISO) Strategic Business Partner, enabling native support for industry-standard rating and forms products, and the platform supports both Admitted and Surplus Lines as well as Lloyd's Bordereaux workflows.

ITS generates revenue through subscription-based software licensing of the TopSail suite, with annual billing and quote-based pricing that is not publicly disclosed. The company deliberately offers very flexible pricing to insurance start-ups, MGAs, and Lloyd's coverholders to address cash flow constraints during their market traction phase, suggesting a tiered commercial approach that contrasts enterprise terms with subsidised onboarding for emerging entrants. Go-to-market is sales-led and direct: prospects request a product demonstration via the company website (its-llc.com) or by phone (203-245-9400), and there is no apparent reseller, marketplace, or partner channel layer. The customer base spans small-to-mid-sized carriers, MGAs, Lloyd's coverholders, reinsurance companies, and specialty program managers, with named enterprise references including Partner Reinsurance, AmTrust Financial Services, Navigators Group, Maiden Reinsurance, and Hereford Insurance, alongside mid-market clients such as Proper Insurance, Insurance Programs of America, TST Insurance Services, and Rural Trust Insurance. The company operates with 11-50 employees and has been continuously operating for over 20 years under founder-led ownership with no disclosed institutional funding, M&A activity, or external investors.

Name

Insurance Technology Solutions

Legal name

Insurance Technology Solutions, LLC

Website

https://its-llc.com

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

11–50 employees

Short description

Insurance Technology Solutions (ITS) provides the web-based TopSail software platform for the P&C insurance and reinsurance industry. It offers policy administration, claims management, facultative reinsurance, financial modeling, and a proprietary Excel-preserving rating engine for carriers, MGAs, Lloyd's coverholders, and reinsurers.

Ownership category

akta.pro rank

Product category

Property & Casualty Insurance Software

NAICS

Computer Systems Design and Related Services (54151), Computer Systems Design Services (541512)

SIC

Services-Prepackaged Software (7372)

akta.pro primary industry

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

akta.pro secondary industry

Insurance Program Administration & MGA/MGU Services (FSAEADAK)

Keywords

• Insurance software solutions
• Policy administration systems
• Claims management software
• Reinsurance technology
• Rating engine software

Headquarters

HQ city

Madison

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. Software Licensing/Subscription: ITS generates revenue through software licensing of its TopSail suite including Policy Administration, Claims Management, Facultative Reinsurance, Financial Models, and Rating Engine. The company offers flexible pricing for startups to address cash flow challenges.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels1 record

Core offering

Insurance Technology Solutions (ITS) sells the TopSail software platform, a fully web-based suite for the Property & Casualty Insurance and Reinsurance industry. The platform includes integrated modules for Policy Administration, Claims Management, Facultative Reinsurance, Financial Models, and a proprietary Rating Engine, all built on Microsoft .NET and SQL Server and deployed as scalable SOA applications. The offering targets carriers, MGAs, Lloyd's coverholders, and reinsurers that need integrated rating, quoting, binding, issuance, endorsement, document management, and reinsurance placement functionality.

Product overview

Insurance Technology Solutions offers TopSail, a unified platform-plus-modules architecture for the Property & Casualty Insurance and Reinsurance industry. The core TopSail Policy Administration system provides web-based rate, quote, bind, and issue capabilities, supplemented by integrated modules for Claims Management, Facultative Reinsurance, Financial Models, and Rating Engine. All modules share a common web-based architecture built on Microsoft .NET/SQL Server, enabling full integration between policy administration, claims handling, reinsurance placement, and rating functionality.

Differentiator

Problem solved

Functional benefit

Brands

• TopSail: TopSail is the company's flagship product platform, offering policy administration, claims management, facultative reinsurance, financial models, and rating engine solutions for the insurance and reinsurance industry.

Products and services

• TopSail Policy Administration Fully web-based policy administration system for carriers and MGAs writing personal and commercial lines (standard and specialty). Supports rate, quote, bind, issue, full endorsement processing including out-of-sequence, automated renewals, statistical reporting, and premium and loss accounting for both admitted and surplus lines. Targets small to mid-sized carriers and MGAs/Lloyd's coverholders managing specialty program books.
• TopSail Claims Management Communication-centric claims administration system supporting the full claim lifecycle for Property, General Liability, Commercial Auto, Inland Marine, Workers Comp, and additional lines. Features a workflow framework tailored to customer requirements, electronic document management, calendar integration, and Microsoft Outlook email attachment into claim files.
• TopSail Facultative Reinsurance Portal Web-enabled facultative reinsurance portal that incorporates underwriting guidelines and business rules for referrals. Supports online placement of facultative reinsurance, ceding commissions, brokerage, default layers, automated email alerts, and the submission-through-bind process. Deployable as internal-only or outward-facing to ceding companies, for both direct and broker market implementations, and usable for facultative and treaty reinsurance.
• TopSail Financial Models Framework that allows financial or pricing models to be web-enabled through a proprietary framework and database schema. Enables collaborative use of models across secure internet connections with a consistent web interface, version control, and results persisted to a relational database for management reporting and analysis.
• TopSail Rating Engine Proprietary rating engine that web-enables Microsoft Excel-based rating models while preserving formulae and macros (not just data and factors). Significantly reduces cost and near-eliminates project failure risk when implementing complex insurance and reinsurance rating algorithms.

Quantifiable outcome

• Significant reduction in cost and near-elimination of project failure risk when implementing complex rating models
• +1 more outcomes

Named customers12 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature5 records

Partnerships

Two partnerships are on record, tiered core.

• AAIScoreTechnology or IntegrationITS is an AAIS Associate Member and Business Partner. TopSail provides strong support for several AAIS Products including Rating and Forms, enabling carriers to leverage industry-standard insurance products within the platform.
• Verisk (ISO)coreTechnology or IntegrationITS is an ISO (Verisk) Strategic Business Partner and supports ISO products for rating and forms. This partnership enables TopSail to integrate with Insurance Services Office industry-standard products.

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Emerging players

• Earnix: Provider of AI-driven rating and pricing engines for P&C and life insurers. Comparable to the TopSail Rating Engine module in functionality, but with a more modern analytics/ML orientation.

Direct peers

• Vertafore: One of the largest US providers of P&C insurance software, offering agency management, rating, and carrier systems. Direct overlap with ITS in serving P&C carriers and MGAs with policy administration and rating workflows, but at significantly larger scale.
• Majesco: Cloud-native P&C and L&A insurance core systems provider targeting mid-market carriers and MGAs. Direct overlap with ITS in policy admin, billing, and claims, with comparable MGA positioning.
• OneShield Software: Provides P&C policy administration, claims, and billing software with a strong focus on specialty and niche carriers as well as MGAs. Highly comparable to ITS in target customer and product scope.
• Duck Creek Technologies: Provider of cloud-based P&C core systems (Policy, Billing, Claims) for carriers and MGAs. Direct competitor in the same P&C core suite space as TopSail, though typically targeted at larger mid-market and enterprise carriers.
• Insurity: P&C-focused insurance core systems vendor offering policy administration, claims, and billing to carriers and MGAs. Closely comparable to ITS in product scope and customer segment, with similar MGA/MGU focus.

Regional players

• Prima Solutions: European-headquartered vendor of P&C and specialty insurance core platforms (policy, claims, underwriting). Comparable in product scope to TopSail, but primarily competing in EMEA rather than North America.

Broad incumbents

• Guidewire Software: Largest pure-play P&C core systems vendor, serving global insurers with PolicyCenter, ClaimCenter, and BillingCenter. Overlaps with TopSail across policy admin, claims, and rating but operates at materially greater scale and a much broader portfolio.
• Sapiens International: Global insurance software vendor offering core platforms for life, P&C, and reinsurance. Competes with TopSail in P&C/reinsurance core systems while serving a much wider set of insurance lines and geographies.
• Applied Systems: Large incumbent in insurance agency and management systems, serving agencies, MGAs, and carriers with a broad product portfolio. Adjacent to ITS in the MGA ecosystem but with a heavier agency-side focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 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 Insurance Technology Solutions