FirstApex
FirstApex Insurance Systems builds enterprise insurance core systems, reinsurance platforms, digital channel portals and integration middleware for P&C carriers, reinsurers and brokers across Asia, the Americas and Europe.
- Company typePrivate
- Founded1981
- HeadquartersSingapore, Singapore
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
What FirstApex does
FirstApex Insurance Systems is a Singapore-headquartered enterprise software vendor founded in 1981 (originally as Apex Systems, rebranded FirstApex in 2002) that builds insurance core systems, reinsurance platforms, digital channel portals and integration middleware exclusively for the insurance industry. Its product suite comprises FirstGen P&C Core Insurance Platform (now in its seventh generation with containerized, modular, low-code architecture), FirstRe for the professional reinsurance market (assumed and ceded, Treaties and Facultative), NextGen Channel Portal for B2B/B2C/B2B2C digital distribution, and NextGen Integration Platform with pre-built insurance connectors and API sandbox. Supporting modules include the NextGen Rule and Rating Engine, DocCreator, Screen Designer, and Business Data Modeler. The platform supports both on-premises and cloud deployments, multi-lingual and multi-currency operations, and an API-first architecture.
FirstApex serves property & casualty carriers, professional reinsurers, and insurance intermediaries (agents and brokers) across Asia (Singapore, Malaysia, Japan, Thailand, South Korea, India), the Americas (USA, Mexico) and Europe (Finland), with named enterprise customers including MSIG, Royal Sundaram, Fairfax Financial, Great American, Marsh, POP Vakuutus, Lloyd's, MS&AD Insurance Group and Gen Re. The company maintains regional offices in Singapore, Japan and India and holds SOC 2 Type II compliance. Its go-to-market is direct enterprise field sales, with revenue derived from subscription licensing (pay-by-usage model for FirstGen v7) and professional services for consultancy, implementation and support. The company was acquired by Vela APX in January 2023 and reclaimed the FirstApex name following the transaction.
FirstApex firmographics
Firmographics- Name
- FirstApex
- Legal name
- FirstApex Insurance Systems
- Website
- https://firstapex.com
- Company type
- Private
- Founded year
- 1981
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- FirstApex Insurance Systems builds enterprise insurance core systems, reinsurance platforms, digital channel portals and integration middleware for P&C carriers, reinsurers and brokers across Asia, the Americas and Europe.
- Ownership category
- akta.pro rank
FirstApex industry classification
Industry- Product category
- Insurance Software
- NAICS
- Computer Systems Design Services (541512)
- SIC
- Services-Computer Integrated Systems Design (7373), Services-Computer Programming Services (7371)
- akta.pro primary industry
- Claims Management & Digital FNOL Platforms (FSAGAGAC)
- akta.pro secondary industry
- Enterprise Application UX, Portals & Low-Code Extensions (BPAEAGAM)
Keywords
Where FirstApex is headquartered
LocationHeadquarters
- HQ city
- Singapore
- HQ country
- Singapore
- HQ region
- Asia
Offices3 records
Markets served
FirstApex business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations
Revenue model
- Software Licenses and Subscriptions: Subscription-based licensing model with 'Pay by usage' pricing for FirstGen P&C Core platform. Supports both on-premises and cloud deployments.
- Professional Services: Consultancy, development, implementation and support services for insurance companies deploying FirstApex solutions.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Pay by usage (Subscription License) |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels1 record
FirstApex product offering
Product offeringCore offering
FirstApex provides enterprise insurance IT solutions for property and casualty insurers, including a core policy administration system, a reinsurance processing solution, a digital channel portal, and an integration platform. The product suite is designed for insurance companies seeking to manage policy lifecycles, reinsurance operations, digital distribution, and enterprise system integration on a unified software stack.
Product overview
FirstApex offers a suite of Enterprise Insurance Products and Solutions organized as a platform-plus-modules architecture. The core products are FirstGen P&C Core Insurance Platform (Policy Administration System covering underwriting, claims, reinsurance and accounting) and FirstRe (Professional Reinsurance solution for assumed and ceded business). These are complemented by NextGen Channel Portal (digital distribution and customer engagement platform) and NextGen Integration Platform (NIP - low-code integration platform with pre-built insurance connectors). Business enablers including the Rule and Rating Engine, DocCreator, Screen Designer, and Business Data Modeler/Configuration tools provide modular capabilities that integrate with the core platforms. All products support containerized/modular deployment, API-first architecture, and both on-prem and cloud hosting options.
Differentiator
Problem solved
Functional benefit
Brands
- FirstGen: FirstGen is a comprehensive Policy Administration System for Property & Casualty insurance, covering the complete lifecycle of underwriting, claims management, reinsurance, and accounting processes. Now in its seventh generation (FirstGen v7).
- FirstRe
- NextGen Channel Portal (NCP)
- NextGen Integration Platform (NIP)
Products and services
- FirstGen P&C Core Insurance Platform
- FirstRe
- NextGen Channel Portal
- NextGen Integration Platform
Companies that use FirstApex
Customer profileNamed customers9 records
Segments5 records
Ideal customer profiles1 record
FirstApex technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration8 records
AI capability3 records
Feature8 records
FirstApex partnerships and signals
Strategic signalScale indicators5 records
Recent moves6 records
Expansion highlights5 records
FirstApex competitors and assessment
Company assessmentDirect peers
- Guidewire Software: Leading global vendor of P&C core insurance platform (PolicyCenter, ClaimCenter, BillingCenter). Competes directly with FirstGen P&C Core for mid-market and large P&C carrier deployments across underwriting, claims, and billing.
- Sapiens International: Global provider of insurance software solutions for P&C, life, and reinsurance, including core platforms and digital engagement. Overlaps directly with FirstGen and FirstRe across multiple lines and geographies.
- Duck Creek Technologies: Cloud-native P&C core insurance suite (Policy, Billing, Claims) targeting mid-market carriers. Directly competes with FirstGen v7's modern, containerized, low-code value proposition.
- Insurity: P&C insurance software provider offering policy administration, claims, billing, and analytics. Targets similar mid-market and specialty carriers and overlaps with FirstApex's lifecycle coverage.
- Majesco: Cloud-based core insurance software (P&C and L&H) plus distribution and analytics solutions. Competes for similar mid-tier P&C carriers seeking modern, API-first core platforms.
- EIS Group: Core insurance platform (EIS Suite) for P&C and life carriers with strong digital and API capabilities. Competes with FirstGen on modernization RFPs and with NCP on digital channels.
- Fadata: Insurance core software vendor (IMIS) primarily serving European and emerging-market insurers. Closely comparable to FirstGen in lifecycle coverage and configurable architecture.
- Prima Solutions: Provides core insurance platforms for P&C, health, and protection lines in Europe. Comparable mid-size vendor profile and product scope to FirstApex.
Emerging players
- RGI Group: European-headquartered insurance software specialist serving P&C carriers with core and digital solutions. Comparable size and vertical focus; primarily a regional peer to FirstApex's European footprint.
Broad incumbents
- DXC Technology: Large global IT services and systems integrator with a dedicated insurance practice, including core systems modernization and BPO. Not a direct PAS product competitor, but routinely evaluated alongside specialist vendors like FirstApex in carrier modernization deals.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
FirstApex social profiles
Digital presenceFirstApex compliance and trust
Trust signalCompliance1 record
FirstApex financial estimates
Financial estimateRevenue estimate
Valuation estimate
FirstApex leadership team
Management profileNumber of profiles
FirstApex funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
FirstApex 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 FirstApex
What does FirstApex do?
FirstApex provides enterprise insurance IT solutions for property and casualty insurers, including a core policy administration system, a reinsurance processing solution, a digital channel portal, and an integration platform. The product suite is designed for insurance companies seeking to manage policy lifecycles, reinsurance operations, digital distribution, and enterprise system integration on a unified software stack.
Is FirstApex a public or private company?
FirstApex is a private company. It is classified as unknown and is currently operating.
When was FirstApex founded?
FirstApex was founded in 1981. It employs 51 to 100 people.
Where is FirstApex based?
FirstApex is headquartered in Singapore, Singapore, in the Asia region.
How does FirstApex make money?
Two revenue lines are on record. Software Licenses and Subscriptions are the primary driver. The others are professional Services.
Who are FirstApex's main competitors?
Direct peers on record are Guidewire Software, Sapiens International, Duck Creek Technologies, Insurity, Majesco, EIS Group, Fadata and Prima Solutions. RGI Group is listed as an emerging player. DXC Technology is listed as a broad incumbent.
Does FirstApex have an API?
Yes. FirstApex products feature an API-first approach with auto-generated insurance-agnostic and product-specific APIs. Configurable product APIs are available via the NextGen Integration Platform (NIP) API Sandbox, providing both digital and omnichannel experiences for agents, brokers, consumers, cedants and reinsurers. Pre-built connectors and APIs with core applications support rapid deployment.
What industry is FirstApex in?
FirstApex's product category is Insurance Software. Its primary akta.pro industry code is FSAGAGAC, Claims Management & Digital FNOL Platforms, with a secondary code of BPAEAGAM, Enterprise Application UX, Portals & Low-Code Extensions. Its NAICS code is 541512 and its SIC code is 7373.