Bermuda
Bermuda is a Dallas-based InsurTech company offering an integration and automation platform that connects rating engines, CRMs, AMS systems, and carrier portals into unified lead-to-quote-to-bind workflows for enterprise insurance agencies, with MCP-based AI agent infrastructure.
- Company typePrivate
- Founded2016
- HeadquartersIrving, United States
- Headcount1–10
- GTM typeB2B
- OfferingSoftware
What Bermuda does
Bermuda is a Dallas-based InsurTech company that provides an integration and automation platform targeting enterprise insurance agencies, carriers, and MGAs. The platform connects rating engines, CRMs, AMS systems, and carrier portals into unified lead-to-quote-to-bind workflows. Founded in 2016 by Mustafa Basaran, Bermuda reports serving over 1,000 insurance agents with more than 50,000 quotes processed monthly and 100,000+ active policies under management.
The company's product portfolio consists of three core offerings: Bermuda Rater (a lead-to-quote-to-bind automation platform supporting multiple rating APIs including TurboRater and Direct Binding), Carrier Downloads (a live carrier-portal data product that reads due amounts, due dates, late fees, and policy changes at the moment of action, replacing batch downloads like IVANS), and Agentic AI (an MCP-based tool server that exposes quoting, policy data, payments, and carrier upload capabilities to AI agents such as Claude and ChatGPT). The platform includes 30+ native integrations across lead providers, CRMs, communication tools, accounting systems, and analytics, governed by OAuth authentication with default-deny permissions for agent access control.
Bermuda operates on a custom enterprise subscription model with no fixed plan list; pricing is scoped per agency based on workflows, carriers, integrations, and volume, typically delivered through multi-year contracts. The company is privately held as Bermuda LLC with no disclosed external funding and appears to be bootstrapped or founder-owned. Go-to-market is primarily consultative enterprise field sales complemented by a self-serve web app for Auto and Home quotes. Geographic focus is the United States, with operations based at 13101 Preston Rd. in Dallas, Texas.
Bermuda firmographics
Firmographics- Name
- Bermuda
- Legal name
- Bermuda LLC
- Website
- https://bermuda.com.tr
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Bermuda is a Dallas-based InsurTech company offering an integration and automation platform that connects rating engines, CRMs, AMS systems, and carrier portals into unified lead-to-quote-to-bind workflows for enterprise insurance agencies, with MCP-based AI agent infrastructure.
- Ownership category
- akta.pro rank
Bermuda industry classification
Industry- Product category
- Insurance Technology (InsurTech)
- NAICS
- Software Publishers (513210), Insurance Agencies and Brokerages (52421), Custom Computer Programming Services (541511)
- SIC
- Services-Prepackaged Software (7372), Insurance Agents, Brokers & Service (6411), Services-Computer Programming Services (7371)
- akta.pro primary industry
- Policy Administration, Underwriting & Rating Platforms (Core Insurance SaaS) (FSAGAGAB)
- akta.pro secondary industries
- Document, Workflow & Policy Servicing Automation (RPA/No-Code) (FSAGAGAK), Customer Engagement, CRM & Agent/Broker Enablement Platforms (FSAGAGAD)
Keywords
Where Bermuda is headquartered
LocationHeadquarters
- HQ city
- Irving
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Bermuda business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales
Revenue model
- Subscription-based SaaS Platform: Custom subscription pricing scoped to agency workflows, carriers, integrations, and volume. No fixed plan list - pricing is negotiated based on agency's specific needs and usage patterns.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Multi-year contract | Custom enterprise pricing |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels4 records
Bermuda product offering
Product offeringCore offering
Bermuda builds insurance infrastructure software that automates lead-to-quote-to-bind workflows for insurance agencies. Its platform connects raters, CRMs, AMS systems, and carrier portals into unified digital workflows via real-time data reads, 30+ native integrations, and an MCP (Model Context Protocol) tool layer that lets AI agents execute quoting, policy management, and payment actions.
Product overview
Bermuda is a Dallas-based InsurTech company offering a platform-plus-products architecture with three core products that work together: the Rater (lead-to-quote-to-bind automation), Carrier Downloads (live carrier-portal data and payment automation), and Agentic AI (MCP-based AI agent tools). The platform connects agencies' raters, CRMs, AMS, and carrier portals into digital, automated workflows. Additional sub-products include the Prefill Data API for data enrichment and a Lead Provider Admin Panel for lead management. The company targets enterprise insurance agencies with custom workflows, multiple data sources, and high policy volume, as well as carriers, MGAs, and digital agencies building insurance technology.
Differentiator
Problem solved
Functional benefit
Products and services
- Bermuda Rater Lead-to-quote-to-bind automation platform for insurance carriers, MGAs, and agencies. Enables real-time quote generation, API connections with carriers and CRMs, and automated workflows to power customer portals and AMS, supporting multiple rating API providers.
- Carrier Downloads Live carrier-portal data and payment automation solution that reads due amounts, due dates, late fees, and policy changes directly from carrier portals at the moment of action, enabling payment and cancellation automation with real-time data sync.
- Agentic AI (MCP Tool Platform) MCP (Model Context Protocol) tool platform that lets AI agents such as Claude, ChatGPT, and custom agents access Bermuda's quoting, policy data, payments, and carrier uploads with OAuth authentication and default-deny permissions, plus wraps external systems (AMS, CRM, proprietary databases, legacy APIs) as custom MCP tools under the same gateway.
- Prefill Data API Data prefilling API connecting to TransUnion, Fenris, DCS, and public records to auto-complete partial lead submissions, eliminating quoting friction and reducing data entry errors.
- Lead Provider Admin Panel Administrative interface for managing lead provider integrations with provider-specific mapping logic, validation rules, workflows, filters, enrichments, deduplication rules, and quote handling configurations.
- Subscription Management (Stripe-powered Billing) Billing and subscription management powered by Stripe enabling policy billing management and payment processing for insurance agencies.
Quantifiable outcome
- 50,000+ quotes processed monthly
- +2 more outcomes
Companies that use Bermuda
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
Bermuda technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration26 records
AI capability6 records
Feature6 records
Bermuda partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core.
- TurboRatercoreRating API provider integration supporting real-time quote generation. TurboRater is one of the primary rating providers used within the Bermuda Rater platform for insurance quoting.
- Direct BindingcoreRating API provider integration for direct carrier binding. Supported as a modular rating engine within the Bermuda platform architecture.
- NowCertscoreCRM integration with bidirectional data flow. Quote and client information syncs in real-time via webhooks and API, supporting AMS/CRM functionality.
- TransUnioncoreData prefill integration for auto-completing partial lead submissions, eliminating quoting friction and reducing data entry errors.
- Claude (Anthropic)coreAI agent platform that connects natively to Bermuda's MCP tools for quoting, policy data, payments, and carrier uploads.
- ChatGPT (OpenAI)coreAI agent platform that connects natively to Bermuda's MCP tools for quoting, policy data, payments, and carrier uploads.
Scale indicators4 records
Recent moves5 records
Expansion highlights5 records
Bermuda competitors and assessment
Company assessmentBroad incumbents
- Vertafore: Major insurance agency technology vendor offering AMS360, Sagitta, and rating/download products. Competes with Bermuda across agency workflows, data downloads, and carrier integrations for enterprise brokerages.
- Applied Systems: Leading provider of agency management systems (Applied Epic) and insurance automation to large US/Canadian brokerages. Direct overlap with Bermuda's AMS/rater/integration value proposition but at significantly larger scale and broader product portfolio.
Emerging players
- Buckle: Embedded insurance platform serving gig-economy and on-demand use cases via APIs. Comparable in API-first insurance infrastructure positioning, though focused on embedded rather than agency distribution.
- Sure (INSHUR): Insurance infrastructure-as-a-service offering APIs for quoting, binding, policy administration, and claims. Adjacent competitor in the insurtech infrastructure layer serving digital agencies and platforms.
Direct peers
- InsuredMine: Insurance CRM, sales, and engagement platform targeting agencies with quoting, pipeline, and automation features. Overlaps with Bermuda's agency enablement and CRM integration capabilities.
- HawkSoft: Insurance agency management system serving independent agencies with workflow automation, rating integrations, and carrier downloads. Comparable mid-market alternative to Bermuda's agency-focused platform.
- EZLynx: Insurance rating and agency management platform owned by Vertafore, widely used by independent agents for personal lines quoting. Closely competes with Bermuda Rater's lead-to-quote automation and carrier connectivity.
- NowCerts: Insurance CRM/AMS with bidirectional data flow and API/webhook integrations; an existing Bermuda integration partner but also a competing platform agencies evaluate for rating and policy management.
- IVANS: Industry-standard batch download provider for carrier-to-AMS data exchange. Bermuda explicitly positions Carrier Downloads as the real-time alternative to IVANS' hours-old batch feeds.
Others
- TurboRater: Rating API provider integrated with Bermuda Rater. Listed as a partner but also a comparable rating engine agencies may evaluate alongside or instead of Bermuda's broader platform.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Bermuda social profiles
Digital presenceBermuda financial estimates
Financial estimateRevenue estimate
Valuation estimate
Bermuda leadership team
Management profileNumber of profiles
Profiles1 record
Bermuda funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Bermuda 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 Bermuda
What does Bermuda do?
Bermuda builds insurance infrastructure software that automates lead-to-quote-to-bind workflows for insurance agencies. Its platform connects raters, CRMs, AMS systems, and carrier portals into unified digital workflows via real-time data reads, 30+ native integrations, and an MCP (Model Context Protocol) tool layer that lets AI agents execute quoting, policy management, and payment actions.
Is Bermuda a public or private company?
Bermuda is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Bermuda founded?
Bermuda was founded in 2016. It employs 1 to 10 people.
Where is Bermuda based?
Bermuda is headquartered in Irving, United States, in the North America region.
How does Bermuda make money?
One revenue line is on record: subscription-based SaaS Platform.
Who are Bermuda's main competitors?
Broad incumbents on record are Vertafore and Applied Systems. Emerging players are Buckle and Sure (INSHUR). Direct peers are InsuredMine, HawkSoft, EZLynx, NowCerts and IVANS. TurboRater is listed as an others.
Does Bermuda have an API?
Yes. Bermuda exposes all platform capabilities — quoting, policy data, payments, knowledge search — as MCP (Model Context Protocol) tools, the open standard AI agents connect to natively. Also supports Open Transaction API for custom integrations, webhook frameworks for workflow automation, and REST API/webhook integrations with lead providers. OAuth authentication for every agent connection with default-deny permissions and input-level guardrails.
What industry is Bermuda in?
Bermuda's product category is Insurance Technology (InsurTech). Its primary akta.pro industry code is FSAGAGAB, Policy Administration, Underwriting & Rating Platforms (Core Insurance SaaS), with a secondary code of FSAGAGAK, Document, Workflow & Policy Servicing Automation (RPA/No-Code). Its NAICS code is 513210 and its SIC code is 7372.